Wednesday, November 2, 2011

11/2/11 Trade Results: 2 positions, $111.25 profit.

1 position in the Euro and 1 in the Nasdaq. Ended the day with $111.25 profit. An important lesson from today is to manually exit positions when you see condition changes. I had a long position in the Euro, price was about 20 pips away from my target, we formed a double top at the high of the day (should have exited manually upon seeing this). Instead, my stop got hit and I took a small profit on the position, whereas if I would have exited manually upon the condition change, the profit would have been around $340 on that trade instead of $85. It's an important lesson that needs to be enacted going forward. I almost consider that trade a losing trade because of the outcome, amateur mistake.

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