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Jul 19

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Monday 19th July 2010 : +16pips Got away with it

Made 3 trades today, 2 winners and 1 loser and just about came up on top. Not really thru any great trades mind. More that lady luck in the ring fell my side today.

Trade 1 : Short GBPUSD @ 1.5270 risking 22pips. LOSS -22pips

STRATEGY : 1M SNAPPER

Touched me in and then reversed quickly to take me out within a few minutes. In hindsight the market pattern was setting up to take all the shorters out……usually happens between 07:00 and 08:00 UK time. I got in at 07:50….sucker!!  So down on 1st trade of the week.

I then had to down tools and take my daughter to her “work experience” at an Opticians…rather her than me ! Still I stopped in town and then had lunch with her and made it back in time for US open. I put this little interlude into my diary as it’s this sort of activity that keeps me focussed on improving my trading to be become 100% self-sufficient from it.

SNAPPER_GBPUSD_Loser

SNAPPER_GBPUSD_Loser

Trade 2 : Short GBPUSD @ 1.5243 risking 20 pips. PROFIT av +26pips

STRATEGY : 1m SNAPPER

This trade was high risk as the cable move south looked like to be running out of steam, but the higher timeframes gave me some confidence I could squeeze a 1:1 from this at least. T1 of 20 pips (2/3rds of trade size) was reached after 1 hour and then the last 1/3rd was filled at 1.5205 45mins after. This was lucky as 1.5202 turned out to be pretty much the low of the session. I am glad I had my Limit order at 1.5205….5pips above the BRN – phew. So for the last 1/3rd I netted 38 pips. To be honest there was a touch of “get my own back on Cable” on this trade….watch those emotions Jimmy!

SNAPPER_GBPUSD_Winner

SNAPPER_GBPUSD_Winner

Trade 3 : Short CADJPY on Pivots via 15m chart. Short @ 82.45 Risking 40 pips. PROFIT +12 PIPS

STRATEGY : 15m PIVOT

What am i doing on CADJPY ???? A little exotic for me. I might have some pineapple for breakfast…whatever next jimmy ! This trade was  a shame! I targeted 82.00 on this trade, straight 1:1 as a recent low. Unlike above where I set my limit order just above the BRN here I neglected to do this and why my trade never filled as price touched 82.02 3 times. With the larger spread on this pair 82.10 should have been a sensible target but then with the stop as high as it was probably not a sensible trade in the first place. Especially as Pivots don’t tend to work very well on Mondays.

Exotic Winner Hahaha

Exotic Winner Hahaha

Trade well and happy :-)

Jimmy

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Permanent link to this article: http://intradayforextrading.co.uk/2010/07/19/monday-19th-july-2010-16pips-got-away-with-it/

2 comments

  1. FFXD

    Isn’t it better quitting with some profit rather than a loss or nothing hoping for more? I always suffer from that and I’d have to say you did great. :)

  2. Jimmy_FX

    Hiya FFXD
    Of course always better ending the day on some profit. More importantly though is ending the day with only my setups executed and executed as best as possible. I know that if I look after the emotions and execution the m oney will look after itself.
    Jimmy

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