No Emotional trades today.
No “let’s see what happens” trades today.
Result : Profits
My 1m strategy activated 3 times with the EURUSD and at the first 2 attempts I took the trade-off the table when the price didn’t act as expected. I took the trades off for less than stop loss – as they say – keep your losses small.
At the third attempt the price broke thru the previous lows made and this time the price reacted as expected. For the first time, which I was pleased about, rather than take the profit at my initial target, I kept the position open until my “close” pattern was identified. This netted me an additional 11pips. The price was at BRN of 1.3400 so expected a little bit of resistance.
I had taken 2 short trades on GBPUSD also this morning, but both times I took them off the table shortly after as I was less confident of the outcome as EURUSD hadn’t really moved a jot. Additionally, we had a previous session close and a BRN to clear in order to give me a tidy 1:1 Risk / Reward. Only have to look at the charts for GBPUSD this morning to wish I had kept my bottle and stuck to my plan.
I’ll post this trade – as one I am proud of, as for me probably the best I have made so far as I actually tried to “manage” the trade whilst open.