By: Mario Fernandes

Mario Fernandes — Tue, 15 Sep 2009 08:32:18 +0000

At least you did not “guess” the market and said to yourself “I recon this will close below the yellow line, so I will just go ahead and short now. Iam sure it will turn out good by the morning”. That in itself showed very good discipline.
Iam not sure, but if this type of scenario occurs in the future, but how feasible/realistic is it to instruct one’s broker’s, by phone, the instruction:- “If the Euro Yen closes below xxx.xx in the 240m chart, then Short it for me, and within 10 pips of bar’s close; and place my stop at 134.55″ or “If the Euro Yen closes below xxx.xx in the 240m chart, then please ring me and let me know, then I will go ahead and place the trade myself”
With the advent of electronic trading maybe all those days gone now? It would be nice for a broker to be customer dedicated to his/her clients like that! It may still exist.
Still in my humble opinion I think excellent discipline was demonstrated in this situation, simply by not getting ahead of one’s self.

By: shallom

shallom — Fri, 11 Sep 2009 17:49:53 +0000

i am in your shoe too ,only that plus euro today during london session i called attention of my wife to the fact that 10mins chat of proact tells me too much pressure to downwards pressure,but in my own case i allow my analysis to get in instead of listening to the market ol boy i loose a fortune not exiting long on time..even now the pressure is still high and i think reversal is on the way for long euro

Comments on: Patience and Letting the Market Lead

By: Mario Fernandes

By: shallom