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.
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!
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.
Trade well and happy