We've had countless good trades, since the last blog post, but this was particularly nice - not because it was tremendous RR, although 10 isn't to be sniffed at, but because it was called in advance and worked out exactly to plan. Knowing exactly where to enter and take profits, before price has got to the turning point, obviously makes for better trading than waiting for randomly-produced signals and not having a pre-determined strong price magnet to aim for.
I posted this in our Trading Skype Group, one minute before London Open, that tells you why this was a good trade; good as in well planned and executed, not just because it was a winner ...
As the old adage goes: if you fail to plan, you plan to fail. Or put it another way: each and every trade needs a good plan or your chances of success are greatly reduced.
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