FOREX end-of-week Summary (5-9 Oct 09)

It had been an exciting week for me; monitoring, deciding, watching and finally taking the trade. This is only yet another week of result, but I can feel that I am more confident and more experience in selecting trade opportunities. Out of all the trades that I took, roughly more than half are positive trade. From the graph above, 3 trades were losing trade and the last losing trade bring me back to a new low for my account. I called that a greedy trade, I was already gaining 15% on that day and had told myself there's no more requirement to take any more trade and can rest early that night. Well, I looked at the chart and took LONG on GBPUSD, mistake! Chart and indicators showed that the reason for my trade was not wrong, but reading the report on actionforex tells me that it was already near the top and price movement would weaken and start to come down. Took the losing trade and hit my SL at 150 pips. Continued looking for opportunities and successfully took 4 winning trades to reduce the 150 pips lost. Due to market closing, I was not able to hold on further to breakeven my losses, but in any case, it's still a overall gain for this week. ;p