The Trend is my Friend

I lost 2,061 pips yesterday, Aug. 21, 2012.

Lesson learned: the trend is my friend. I must follow it. My strategy should be based on the trend. I lost a lot of pips because I kept entering a "short" even though I'm seeing that the trend is upward(which does not make sense, I know). At the back of my head, I was reasoning that the price is too high therefore it will eventually go down. That is based on the price movement for the month, which is not enough, which brings me to another lesson learned: I must always remember to look at the yearly, monthly, and daily view before entering a trade in order to have a better gauge on the current price movement. Area of improvement: I will master defensive trading soon.

445 pips for today, no loss, 13 trades

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My Trades for August 17, 2012

From 8:52pm to 10:55pm (2 hours, 3 minutes) I gained 872 pips. The movement of the price is good. It's good to trade on a volatile market.