Trend Follower: USD JPY Long

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Wednesday, January 12, 2011

USD JPY Long

Yesterdays long and sold near at the top.

Entered Long Positions this morning, Pyramding. In trend following, first you probe, and when your first probe shows you profit, start to pyramid. Just do not forget your stops, execute it without hesitation.

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Tracer's Trading Rules

1. No Set up, No Trade

2. Plan your stops before entering a trade

3. Let you profits run

4. Never argue with the tape

5. As soon as your price move in your favor, increase you stops.

6. Always be on the look-out for danger signals.

7. In a losing streak, take a vacation.

8. In a winning streak, add more.

9. 3 rules you must always follow, 1. cut-losses, 2. cut losses and rule number 3. cut losses.

10. I do not have targets.

11. Keep Learning. The market is constantly changing. No strategy works forever.

By following these rules, you have limited risk and unlimited profit potential.

Wednesday, January 12, 2011

USD JPY Long

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