Monday, May 22, 2006

Short AUD/USD Sticking to the plan(At any cost)

If you have read any of my past trades you would see that I have lacked discipline and have acted with fear. This trade I was detrimened to let run NO MATTER WHAT. I sold 3.5 lots at 0.7699. My stop loss was set 0.7710 and my take profit at 0.7694. I thought this would be a quick little scalp. The chart shown below:
scalp AUD/USDAs you can see from the chart above my quick little scalp turned into a USD$385 dollar loss. However despite this loss I am happy as I did not intervene with fear. I let the trade run it's course and even though I took a loss I stuck to my plan.

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