RE: Trading/Spreadbetting board8 Sep 2011 17:41
Well, after some profitable trades and some poor ones over the past couple of years and reading the board the past couple of days the key things that have cost me are: poor entry (some times early but still correct direction [mostly[); being too greedy (we have all been there and got the t-shirt); and not having a target.
Now after the reading…I will stick to the daily target (obviosuly if an opportunity is staring me in the face then i will take it but a daily target (pips or £) is imperative.
Also, closing half the trade in profit and moving the stop to b/e is soemthing ive considered inthe past but never put into practice (too greedy) but it has been working. Played the FTSE of 5290 (longs) and the EUR/USD off 14010 ish (short). some i closed fully and some half. Currently have a half running short from 14009 with the other closed at 13982.
Keep up the good work and i will chip in when i can, but due to work and not having complete access/time to certain sites it wont be amazing input!