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Jul 16

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Friday 16th July : +63pips after 5hrs

I missed my Snapper trade on the Euro at around midday, so turned attention to GBPUSD and took a look at a Pivot Trade as it seemed to present itself so well.

I went short at 11:45 @ 1.5368 risking 70pips with a target 63 pips away just above Support S1…so just about a 1:1 trade. One reason why Pivots sometimes are so difficult to trade as the Stop Loss seems so far away and expensive. I have been taught that Pivots are a Plug and Play type of trade (I hate the term Set and Forget just as much).  The trade muddles along for what seemed like ages. In between i went to the supermarket and bought some fresh fish and cous cous  to make dinner (PM me if you want the recipe it was delish’), took the dog for a walk and met up with a friend.  At 2pm I took the Stop Loss down to 1.5405 afer a retracement fell away and started to yield some profits. Then I really did forget about the trade; i t was now or never for the price to move and not much time left in the day before liquidity dries up. I was hoping for some end of the week sell-offs to bring my trade home. At 16:45; 5hrs later I was filled at 1.5305.

PIVOT_GBPUSD_160710 +63 pips

Now just a few months ago that trade would have been absolute torture; today total calm. Interesting. Que sera sera mentality. Not careless but carefree. Long may this mood continue. Up for the week in pips and equity.

Have a good weekend

Jimmy

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Permanent link to this article: http://intradayforextrading.co.uk/2010/07/16/friday-16th-july-63pips-after-5hrs/

2 comments

  1. ANON

    Love: carefree but not careless.

    Good job.

  2. Ayumi

    Good job Jimmy~
    Not careless, but Carefree ^__^

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