Friday, February 26, 2016
Successful: Short GBPUSD
On Monday 22/02/16 morning, saw a gap down and GBPUSD is in a long term down trend so decided to short 1 mini lot. Was thinking about doubling it up by shorting 2 mini lot because the hideous gap down does look good like a high probability short trade.
I was also amazed that by reading chart actually gives us the technical advantage to be in the market first before the majority comes in after the news. It was later in the morning, that I saw the news reporting about panic over 'Brexit' causing GBPUSD to dive lower.
Anyway was kinda happy to see that this trade works out well.
Got my biggest win so far: S$412.87
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)