Trend Follower: AUD USD Time Line 2

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Wednesday, May 11, 2011

AUD USD Time Line 2

As expected, when I did not follow my rules, I went short, and it just went up, now I am down 20%. Anyway, tried scalping, and yes I retrieved some of my loses by just buying and selling when it touches trend lines. This is due to my frustration on listening to others.

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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, May 11, 2011

AUD USD Time Line 2

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