Tuesday 6th July

by KT 22:59 0 comments

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

A mixed day to say the least, took two trades today, both of which ended up as losses. I'll explain further but both should have ended in profit.

Trade 1 - USD/CHF - Bought @ 1.0626 - 11am Bar - Closed @ 1.0602= -24 pips

The fifth bar represents strength and i bought on the following bar, at it's highest point the trade reached about +30 but it unfortunately didn't make the profit target of 40 and dropped off before i closed it at -24. At the end of the 4hr bar it was at around +17 and i should've just taken my profit then. Within half an hour into the 3pm bar it dropped to the point at which i closed it. Stupid on my part really. Still though, a definite lesson learnt!

Trade 2 - USD/CAD - Bought @ 1.0551 - 7pm Bar - Closed @ 1.0536 = -15 pips

Similar to the previous trade, a spike down finishing on the highs, again this reached around 16pips at it's highest point, with the previous loss in mind i should have just taken this profit, i was keeping an eye on the 5min chart but unfortunately i didn't see the market turning at the right edge, (it's clear now of course!).

Despite today's losses i'm happy enough, i made two calls that achieved profit at one stage or another. I am considering moving my profit target of 40 per trade to around 20 or 30 per trade. To begin with i could do with gaining as many pips as possible. This may be wise so as to build up my account to start with. After all, i'm still learning VSA.

• Day = -39
• Week = -39
• Month = -39