Opening Balance:$11,164
Date: 19 July 2012 (Thursday)
Venue:Out dining and shopping at Great World City
Pair :
EUR/USD Time frame: H4
Direction:Short
Result: +1R
Strategy: ABC with Double Divergence
I checked my iphone and saw that there might be an opposite divergence. So I quickly took action and true enough there was one.
So I closed out my existing trade and took a short positon based on the ABC and double divergence trading rules. Profit target here is 2R. Ok go to sleep now and stop staring at the comp
20 July
Its the next day now and I am glad to see that I havent been stopped out. I am again checking the charts every now and then and finding evidence that I should get out of this trade as it looks like its going up
Evidence #1--the price seem to have an upward bias
Evidence #2
The weekly chart seem to show an upward bullish divergence.....How???
Should I take note of these opposing signals or just stick with my trading plan?
The temptation to throw in the towel and just get out while its positive is very great because my gut feel is that the trade is
moving up, going against me...Then I went out for dinner with my friends. I also decided what the heck to just bloody stick to my
trading rules because they are there for a reason....
Then at dinner time when the market opened, prices started their swift descent....So I am really glad I stuck to my trading rules
because my job is to follow the rules, not to predict the market....So I got out at +1..5R as I didnt want to hold over the weekend and
also since my bullish instincts are so strong...
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