What a difference a day makes…

3 09 2010

Frustrating day yesterday, worse one yet. Total of 3 trades and each one stopped out. Interesting to see that a there were two clear channels where price was bound one on the hourly and one at the 15min timeframe. First trade was the break below of the 15min early yesterday morning at 1.278 which stopped out for -51 pips total. Next saw the break above shortly after, at the top of the 15min channel at 1.2823. Stopped out for -48 pips total. Finally stopped out for -39 pips total once the hourly resistance was broken and the breakout again failed at 1.2837.

The only real mistake I can think of is my stop placement for the second trade which should’ve been 5 pips lower which would’ve at least resulted in a break-even trade.

First real series of drawdown’s that I’ve experienced and I guess I’m just going to have to take it on the chin. The channels were well defined for me to use the 15min as reference for any breakouts so I wouldn’t expect to do anything different.

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