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Mar 30

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Week 7 : Tuesday 30th March

Another trading session this week where the action took place nice and early which was great after, it seems, several weeks when we had to wait until the afternoon before the right setups occurred.

Being prepared and having a routine in the morning is making all the difference to my trading performance at the moment. Or at least that is how I feel about it. From 05:45 -> 06:45 I have gotten myself into a fixed routine which includes walking the dog, getting dressed (can’t work in PJ’s) and then spending 15mins conducting a systematic assessment of the market looking at what Currency looks to be weak or strong.

Today was an exceptionally hi trading day as 6 out of 10 currency pairs met my setup conditions before 07:00. I took them all on with 3 going to their 1% target, 1 closed at 90% of target, 1  at Breakeven and 1 for a small loss. Which gave me 87pips (3.0%) for  the mornings work, which I am very pleased about. I could have improved this further by letting the EURJPY and GBPJPY crosses continue past my target as the move ws so strong and taken an additional 2% from the market; but I really don’t have a problem when I have taken what I set out to take and not been greedy. As we say in horse racing circles – the JPY trades today “ran on”.

I have posted the 30pip trade on GBPJPY

GBPJPY_300310 +30pips

GBPJPY_300310 +30pips

Good luck trading

Jimmy

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Permanent link to this article: http://intradayforextrading.co.uk/2010/03/30/week-7-tuesday-30th-march/

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