MeetPips.com

So, it has been a little while since I have done a recap. In the last two weeks I have only executed 4 trades. All of them good for different reasons.Good - 1) Last week - sold GBP/USD I went short.*From the catacombs, I brought my account back into positive territory! *I executed my plan, and I pulled the plug before price retraced. This was the right move, as price came pretty close to my entry point.I jumped into the entry when I should have gone into this one with a limit order. Being down -80 pips is nerve wrecking. The first day, I saw I was down 80 pips, and started having 2nd thoughts about the trade.I'm glad I waited as Greek bonds were rated as junk. Portugal and Spain were downgraded. The 'risk off phenomenon' went around the world. Europe sold like crazy. Price began retracing before hitting my target. I hate watching profits fade, so I pulled the plug and that was the right thing to do.2) Sold GBP/USD againWhat went well - I traded this on my demo account :)I had hit my target last week and I did not want my account dragging into neg. territory on the same week I t brought myself from bankrupcy at Grecian proportions. I used the candlestick to identify resistance, and placed my stop loss at that level +10. That was pretty dumb. I'm allowed to be dumb on my demo account. I need to add more pad than just 10 stupid pips. my resistance estimation was close, I was only off by 7 pips. Either way, If I'm going to get stopped out, I don't mind doing it on fake money.3) Sold EUR/USD - trades 1 and 3 were because of wave counts and some luck. Luck was on my side. The Greek resolution was drafted over teh weekend, and I wanted to see how the market would react, so I watched price after having a plan in place. Monday was a down day for EUR, and also a UK holiday. I wanted to see if London would continue to sell. I figured if the Europeans did not like the resolution, then the selling would continue. I woke up early, and the selling continued, so I took a short position. I did not think it would happen so quickly. Price dropped significantly, and I thought about taking profit. But, I looked at the daily candlestick, and it formed a 'belt hold' pattern. This told me that price action was on my side. I actually placed my limit lower, and trading went beyond my inital limit. Today was a little too wild, a retracement is due. It looks like that is happening now. I took the EUR from 1.3153 to 1.265. I sold a second unit at 1.2658, and took it down to 1.2608. I have more than doubled my account in two weeks! I need to let my ego decompress a little... The next trade was USD/JPY, which I am bullish on this pair.It was sacked in today's blood letting. I bought it on a whim. Luckily, I got out as I had not completed my analysis. I did not plan, I just jumped in... The devil made me do it.. I was lucky to get out ahead.If I keep my analysis current, then this is okay if price falls into my trap. However, that is not what happened.... That was just the newbie in me... I need to get to the next level. Erratically trading is not the way.