Thursday, May 22, 2008

A feather on cap




















I hardly score a 50 pips run when trading on M1 and M5 charts. Psychologically it is quite impossible to sit it out with the ups & downs + twists & turns of the market for it to exceed a 100 pip run. Yet when you see there are times the market trended for > 200-400 pips, you just wonder how to catch one.

So catching the first 100 pips run in a single trade to me is a milestone.

I manage to score it on the 3rd trade after attending a course. Was it luck? May be part of it; market trend was conducive then. But I attribute it to the change in approach than luck.

It is a fundamental shift of the approach, the mental time frame and the techniques.

In brief it is change of methodology and stringent market entry criterias.

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