Tuesday, 1 June 2010

Gaging Important Levels With Intuition? Maybe Not, But Something Like It


Well if you're a regular you'll recognize my trades and graphs by now. I feel pretty confident buying a 80-100 pip pullback, then after pausing for 20-60min, the trade goes sour without ever giving the chance to get out with decent profit. So I double up. Then I have to wait 4-5 hours for it to get back to the first entry point. At least for my ego I can state that at both levels I chose - just by gut - the market stabilised at least temporarily...  But when I was down 900$ at 11CET I did think: How bout if today is the "flash euro crash".... and the pair moves 3-4%. I'd be knocked off my feat pretty quickly! Russian roulette trading.



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