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DEFINED By A 4X Trader @faithmight

Posted by birdie31 on January 3rd, 2010

Mistakes

1. Set the price alert.
2. When price gave up the 20 level after achieving 50, that warned of a deeper correction (EUR/GBP). Trade what you see.
3. SET a new limit to sooth the ever bougoeining ego.
4. Move stop after target achieved and after 3 days in the trade.

Despite the weakness in the Dollar today, U.S. Equity markets could not get on track for a rally because of a bad housing starts report. This morning’s decline in U.S. Housing Starts capped gains throughout the day although the markets were able to eke out a slightly better close. Traders are beginning to question stock valuations given the current weak state of the economy.

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