Tuesday, June 22, 2010

Port mortem trade - 22nd June 2010

Today in summary i lost 5 point + 2 points for FBR commission. 

Yesterday trade was success but not for today. The lesson learn for today, control the emotion and wait for the confirmation candle before enter position. Today mistake can be describe as follows:

1. Trend was bearish but for some how i still want to play swing. I should have find a point to short (for example in next rallies).
2. Wrongly identified price divergence, need to improve more on this.

but for today i follow the trading plan which is set the cut loss point...yippie..

Thus, for the next trade i need to use default MACD to identify underlying trend and find position to take advantage of the trend.

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