- 7am - no trade
- 11am - no trade
- 3pm - 1 trade
- 7pm - 1 trade
- 11pm - no trade
- 3am - asleep!
Trade 5 - EUR/GBP - Sold @ 0.8224 - 3pm Bar - Closed @ 0.8254 = -30 pips
This picture is up to date at the time of writing (13.20 Friday 2nd). I interpreted the second bar as an upthrust and went in on the third bar. It closed at -30 at the end of the 4 hour period. I'm going to be making a change to the strategy which i'll talk about in the next blog. There appears to be resistance along the upper part of this picture and i still think it's going to go down. It's more a case of me getting in too early but up until now i wouldn't have stopped out.
Trade 6 - GBP/NZD - Sold @ 2.1923 - 7pm Bar - Closed @ 2.1973 = -50 pips
2nd bar represents an upthrust and i entered what was unfortunately a losing trade. More due to me not being aware of the characteristics of the market. This will be the last trade we take on GBP/NZD, i thought the spread was 3 pips but it turns out it is 30. This was a legitimate trade but this market moves so much that it turns out a 50pip stop was far too close, the stop was taken out really quickly and it hit a low 0f -88 before climbing back up to +47 all within the four hour. Anyway, won't be trading this in future and it has been removed from the watch list.
- Day = -80
- Week = -152
- Month = +679 pips
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