Daily Activity 9/14

Yesterday I spent the majority of the day sitting in with both Blue Point and Kurtosis' trading rooms. The market was in a range and no EURCHF trades were opened or closed. So far I've initiated 2 EURUSD trades based on the moving average cross, 2 losers and 1 break even. Some of these initial results have to do more with exit strategy than trade viability. The break even trade went my direction almost right away and I moved my stop to break even when the price reached 1:1 reward to risk, then immediately retraced back to my stop. The entry still appears to be sound, but much more development is needed on handling the exit. Richard Regan of ProTradingCourse.com says that entries are a science, while exits are an art form.