I continue my post about The 25 Point Discipline For Day Trader. And below is the 5th and 6th point
#5 YOUR BIGGEST LOSER CAN’T EXCEED YOUR BIGGEST WINNER.
Keep a trade log of all your trades throughout the session. If, for example, you know that, so far, your biggest winner on the day is five e-Mini S&P points, then do not allow a losing trade to exceed those five points. If you do allow a loss to exceed your biggest gain then, effectively, what you have when you net out the biggest winner and biggest loss is a net loss on the two trades. Not good.
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Friday, July 23, 2010
Today's Forex Prediction - July 23, 2010
| PAIR | TODAY'S PREDICTION | |
| MAX | MIN | |
| EUR/USD | 1.2923 | 1.2788 |
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