Sunday, December 13, 2009

Lesson learnt - shifting stop loss

Lesson learnt.

One, never shift stop loss level to my favour till the target 1 level hit.
Shift stop loss level to my favour at the conversion level. Never too near market range trade.

-1.6430 level stop loss 1.6460 level.
Target 1 1.6400
target 2 1.6370
Target 3 1.6340 level also hit.

-1.6430 level stop loss 1.6480 level.
Target1 1.6380 level.
Target 2 1.6330 level hit.

No matter what resistance level you use. It is important to stick to rule.

A well written trading plan to assist you.

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