Keep Winners Rid Losers – Post Mortem EURNZD trades
I posted 2 tweets on EURNZD last week.
First trade was a winner with a profit ranging 55-175 pips (depending whether you keep winners or rid winners too fast). There was an unfortunate even though. Due the movement, EURNZD spread spike during FOMC day which resulted in some students being prematurely stopped out.
Below chart shows how you could use the tweet that I posted as a refer to your trades. Again I want to emphasize, all the levels that I said are either support or resistance and in no way, should be interpret as a target profit level.
Subsequently, I posted another EURNZD trade this week on Monday.
$eurnzd H4 boxes still stacking down; 1234 seen H4 with TX plot too. below 16135 has S 16080-85 16010 15940-50
— TerraSeeds FX Tflow® (@terraseeds) September 23, 2013
The above trade was a losing trade
I tried to find all reasons why it’s a losing trade, but in my opinion, this trade was executed according to stated rules. So I can’t really find any reason except that it’s a losing trade. My loss for this trade was 89 pips.
Looking back, I probably committed a mistake. The usual style of tweeting a level is to give a buffer of 10 pips. E.g. 16080-90. However, in the most recent tweet on EURNZD, the first level did not have a 10 pips buffer, instead a 5 pips buffer (16080-85). If I had said 16090, then the first level would be reached and some of you might have gotten some profit to buffer for the losses.
I will remember this.