This is the first time I had taken more than just the odd day break from trading for 5 months, so it was with some intrepidation that I got up this morning, followed my routine and got to my trading desk. I know my rules, know my strategy know what I have to do in order to be profitable; that said you are still risking capital in what can be a very volatile market…….a little apprehension on the first day back is to be expected I suppose. My biggest fear is always “can i trust myself to be disciplined enough to do what needs to be done” ? After a break frankly you don’t know that until you are ready to pull the trigger and get involved in the market.
Luckily, I was blessed early this morning with a nice setup on EURJPY. Yen was strong vs Sterling, and the 1D, 1H and 15m charts gave me additional confidence on the trade that I was the right side of the market.
I went into the trade with 0.5% of my capital and risked 20pips. Short Entry was at 110.40 at 08:40BST. T1 set at 110.20 and T2 at 110.05. I would have preferred to have T2 at 110.00, but with it being a BRN I expected some resistance so popped a Limit order just above.
T1 was hit after 8mins and T2 after 35mins. As it turned out 110.00 provided no resistance at all and price moved further down to 109.80 after about an hour. Oh well !
Hope you all caught the EURJPY move this morning, it was available (as with all strong moves) across multiple timeframes and strategies.
I am very pleased with the trade and I scored it a maximum on my rating scale for Execution and Performance. The sun is shining, so off to the gym to work off some of a few pounds that went on whilst in South Africa, enjoy the sunshine and get ready for the football this afternoon.