Chart 12 >>>
By
tymen1 at 2008-10-13
In this chart we see that the price action
rose rapidly and hit our target profit of 70, then went down again.
The target profit line had disappeared, therefore, and we now have that 2nd profit of 56 pips.
We now have an important work to do............
CLEAN THE CHART
This is
most important.
That is, since we now have our profits and the trade is finished, we must now
remove any lines remaining.
If we
do not do this, then, should the price action reverse, we will
start a new trade and we will
not even know about it.
This will most likely be absolutely disasterous.
The new unwanted trade will probably be a large loss trade!!!!
And, of course, this will kill all of your good work.
So this final action of cleaning the chart of outstanding orders and stop loss orders is just as important as trading itself.
Now the final chart.