1:00pm

Talk about an Anti Climax for Cable by end of market close. Even with Scotland rejecting the idea of Independence from the UK, we would assume GBP will rise more but instead it drop back and taking out the 240pips rise from the previous day. Well, that is another way to say 'Buy the Rumour, Sell the News (or Facts)' if you are into fundamentals.

Anyhow, my Long position is still in play albeit with only 8pips of unrealized profit now. I have a Limit Sell order @ 1.62878 which certainly will be triggered by Monday open.

The most important thing is to trade what you see on the charts if you are a Technical trader and to follow and implement your plan, method, strategy or whatever you want to call it, religiously and without fail. No matter if the trade is in a loss or making profit, if you see an entry to go the opposite way, just close the ongoing trade and open another to the other direction. DISCIPLINE  and PATIENCE must go together when you trade Forex. Combined with a good strategy then you are on your way to becoming a successful Forex Trader. This is My Way of trading.

I will post again next week if my order is triggered.

All the best.
Juf