Tuesday, June 5, 2007

Lesson learnt

Today's trade makes me realise something.

1) If I am watching the market after my trade is engaged, I should let the profit run instead of taking the profit strictly according to the forumla. I remember David said at the preview session - A good Forex trader will cut his loss but let his profits run.

2) The timing of checking the market does make a difference. Imagine someone who has only checked the market now, just to realise that the trend is over, he would have miss the opportunity to make money. Of course there will always be a next chance, but frequent checking of the market DOES make a difference. I begin to understand why KS encouraged us to check and record the market statistics at different timing of the day. Like what he said, it's to give us a good feel of how the market is performing.

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