Intraday FX Player

[yoohoo]

off the 1 min - yea CF

 

[CFerret]

Hopefully we at least test the closes support (1.58).

 

[El Caballo]

Short-term bounce forthcoming on 1m (around 820) - can it restest the recent high?

 

[CFerret]

Yeah, bouncing, I'm also curious if it's just a minor retracement (hopefully ) or we'll have 2B..

 

[El Caballo]

CF,

Do you trail a mental stop on these type of plays? ie. short at 42. now if pushes 30 odd, you exit?

 

[CFerret]

Quote from El Caballo:

CF,

Do you trail a mental stop on these type of plays? ie. short at 42. now if pushes 30 odd, you exit?

I usually trail real hard stop according to PA, but if see what I feel is a red flag can get out simply by this feeling, so guess it can be called a form of mental stop.

 

[CFerret]

Out for a gain of ~ 1.5% or so (~ @ 35). Looking like it's going up again to me...

 

[CFerret]

Now looks like I was tricked out again though...

 

[El Caballo]

I am more a position trader, but currently trialling day trading the forex markets (hence my interest in your journal). That taunting dilemma you just experienced - will it or won't it - is one of the supreme mental tests of day trading. I think mastering this element is a key to trading profitably in day trading.

 

[yoohoo]

nah you did fine but if you decide to position and B/e or play aggressive then you'll feel better. Position play if PIB... and if fairly confident of swing possibility

Close to position for continuation down but it's messy