Thursday, April 30, 2009

One of my most successful trading methods

One of the reasons I do smaller positions is because, even if you think you know the trend, you are not always going to be right as to where it starts...but you can still take advantage:Here's how today's trading worked (and is still going):

I shorted my first Euro/US position at 1.3206 (obviously a little too soon.) My second position was placed at the 1.3247 R1 resistance level (which was also breached:

...but my third short was placed at the the 1.3257 R2 resistance level and I covered it at a decent profit for just a five minute trade.

So neither of the first shorts stuck...which is fine, because I am trading small positions...and I was able to take money off the table with a small profit on one of the trades, while waiting to cover the others at a profit.

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