Friday 18th June

by KT 13:22 0 comments

• 7am - 1 trade
• 11am - 1 trade
• 3pm - no trade
• 7pm - no trade
• 11pm - no trade
• 3am - asleep!

Trade 13 - GBP/AUD - Bought @ 1.7067 - 7am Bar - Closed @ 1.7107 = +40 pips

Fourth bar represents a test into new ground, profit was made over a 3 hour period on the last bar in the picture.

Trade 14 - GBP/USD - Sold @ 1.4822 - 11am Bar - Closed @ 1.4806 = +16 pips

The second bar represents an upthrust and the profit was made on the third bar. It didn't quite make the +40 profit target and ended up closing out at +16. Naturally it continued going after the 4 hours was up and i think it will hit that +40 target. Nonetheless, a good day and another good week.

• Day = +56 pips
• Week = +165 pips
• Month = +699 pips

Didn't exactly stick to my idea for this week of moving stops and trying to gain bigger profit targets. I've since decided that 40pips will be my target for every trade and i'll be more than happy to take that. My strategy is as follows;

• Trade on 4 hour charts
• +40 profit target
• -50 stop loss max or a few pips above/below previous bar
• Good until 4hrs or Profit/Stop is hit

For the next two weeks i think i'll just stick to my strategy and perhaps hone it further. No major changes will be made for now.

Thanks,

KFT