Posted by: joetradingplace | May 24, 2013

Weekly Update

What separates the boyz from then men is how you handle a DD period. Any trader could do well in smooth trendy markets, but when it comes to trading choppy trends and sideways markets, that’s when swing traders usually get into a DD. Its how you deal with the DD that’s makes you a better trader…a lot of inexperienced traders usually double up on their size to try and cover losses, but that’s how they keep digging themselves deep in DD…

We are experiencing a DD period since the beginning of this month, but we never double up on our risk, we always try to cut our losses as soon as the market provides some room to breath. We keep taking our trades, because we know that the method has worked and has experienced DD in the past and got out of it ok.

We only took 2 trades this week, long Audchf which was stopped out for half the initial risk and short Gbpjpy which was stopped out for 15 pips…this was a frustrating trade because it did as we expected and could have got final target, but that’s trading for you.

Weeks Total = -105 pips

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