Posted by: joetradingplace | April 16, 2013

Audchf Trade

We have been watching Audchf and expected a drop from 0.9900 handle, we took our first short from 0.9880, we managed to get 1st and 2nd target but we were stopped out when we locked in profits. But we were still convinced that the pair was going to drop, we joined in on the retracement and that’s the current trade we have open….shows that we had a plan and we followed through with the plan and took advantage of the idea. It doesn’t work all the time, but works more often than not. When it fails to work, we cut our losses quick and when it works we let our profits run, we always make sure that we live to trade another day.

If its that simple, WHY do many people fail?… because they always try to outsmart the market by complicating things. Trading is simple but not EASY!!!!!!…its the hardest way to make an easy living!!!

audchf 03-04

 

Audchf 10-04 before

 

Audchf 10-04 after

 

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