EURUSD: sit tight, it might be for this Time!

http://blog.thelordoftrading.com/2010/09/eurusd-sit-tight.html

Fantastic Post. It is very difficult to apply these disciplines when trading. I believe Livermore said 'I am immune to fear, greed, and hope.' Thankfully, I am re-reading the Holy book and was able to apply these techniques to my trade. Last night in trading the USD/CHF I cut my losses short. I am thankful I did because the FOMC decision sent the pair tumbling below parity. It pained me because I believe there is a good deal of profits to be made in the pair. The swiss government does not need to talk up 'unilateral intervention' against the dollar (Though the 1.30 line on the EUR/CHF is an entirely different story).

Batman wrote:

Fantastic Post. It is very difficult to apply these disciplines when trading. I believe Livermore said 'I am immune to fear, greed, and hope.' Thankfully, I am re-reading the Holy book and was able to apply these techniques to my trade. Last night in trading the USD/CHF I cut my losses short. I am thankful I did because the FOMC decision sent the pair tumbling below parity. It pained me because I believe there is a good deal of profits to be made in the pair. The swiss government does not need to talk up 'unilateral intervention' against the dollar (Though the 1.30 line on the EUR/CHF is an entirely different story).

Thanks for your comment. I hope the USDCHF trade hasn't hurt you too much, I know how it's hard to cut a position for which we have a conviction. Actually thanks to the automatic stop losses, it's become pretty "easy" to cut the loss short, the most difficult part is to let the profit run, it's just not human!