05/06/2009 GBPJPY Trade

This was a TriScreen Trade that was executed late but was done in conjunction with the break of a previous support level.

Short 1 (100) GBPJPY @ 4697
Stop @4790 (-93)
Target @ 4515 (+182)

Click here for larger image

Click here for larger image

This was a bad trade.  I should have stuck to the rules of the TriScreen and stayed out of the market.  If I had followed the rules, it would have been very profitable instead of picking the bottom of the day.  That’s why it is necessary to review all your trades.

I obviously got stopped out and lost -93 pips on this trade.

Resources for Forex trading
Snag the free downloads:
Heroic Traders - Interviews With Top
Lifestyle Forex Traders (115 Pages),

The FX Field Kit, and more...