The TRADING PATTERN


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It was 3 pm. I was coding some great trading algorithms that i was expecting to sell for 100 million dollars in the near future. I was not planing to trade that night because the pasT week was not very profitable. Still i had the eurusd chart on one of my screens. Then i saw with my right eye that the market had spiked and remained on the top for some minutes at a bit higher level than the initial spike. I immediately recognized the PATTERN. The market was about to trend for the rest of the night and maybe for some more days. I immediately opened a buy position. IT was a sure win, no risk, a present, this was the pattern. After some minutes the market spiked back and collapsed. I didn't even put a stop loss. I lost 3% of my account in 30 minutes. I will comeback stronger than ever.


Lesson : key: be careful with patterns and have a proper risk managment, its not a bad idea to have stop loss all the time.


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