Thursday 2nd June

by 22:07 0 comments
Wow. It's June already. Didn't post yesterday as I was working and didn't do any trading for the day. As far as i can see, didn't really miss any opportunities. It has been very tough to trade this week, with bank holidays / working and it being an NFP week it has generally been a bit messy.

Nonetheless, I still took one trade this evening. Made a couple of pips but unfortunately my greed/emotions got the better of me and I had much better opportunities to get out of the trade.

Trade 48 - GBP/USD - Sell @ 1.63285  Closed @ 1.63261 = +2.4

Cable 5min

As it seemed to be at a bottom of a run I didn't risk the usual 3% that I usually do on such a trade. I sold at market instead of setting an order on the low of the bar. My stop was placed a couple of pips above the high of the upthrust/nd bars. Initial risk was about 1% of my account. I was targeting 1.6300 as a round number and likely target based on it being a psychological area of the chart. Wasn't long before it got to this area but upon gunning for the line it missed the target by two pips. I should have got out once it had rejected this line. Would have covered my loss from Tuesday and a bit more on top. Never mind. Still made a little bit on it!

Funnily enough, if i'd risked the usual 3% and set my order on the low of the upthrust / ND bar, the 3% target would've been hit. Typical really!

NFP tomorrow so will probably be fairly dull for the start of the day.





28. Forex. Trading. Music. Beer. Food. Travel.


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