• 7am - no trade
• 11am - 1 trade
• 3pm - 3 trades
• 7pm - 2 trades
• 11pm - no trade
• 3am - asleep!

So, the main object of this week is to further streamline my strategy. This week i'm going to concentrate on setting 3 profit targets per trade, for instance (20, 40, 60) and moving my stop up once each of the targets is hit. This will require checking the trade more often during the 4 hour period, but i have nothing but time on my hands at the moment! This way i should be able to gain more pips from a trade than i have been up until now. Also after today's trading i reckon i'll stick to one trade per 4 hour time slot as this will be the case once i start using money.

After last week i'm going to continue using the "Tradeguider" method of placing my stops. This seemed to work quite well.

Today was a bit of a mixed bag and went something like this;

Trade 1 - JPY/USD - Sold @ 91.87 - 11am Bar - Closed @ 91.83 = +4 pips

Retrospect is a wonderful thing. Now that i'm taking screenshots and putting them in to this blog, i probably shouldn't have taken this trade at all. The 4 pips were made on the 4th bar. I interpreted the third bar as an upthrust which isn't really the case. This trade reached +20 at it's highest point, i should've moved my stop to +10 to lock in the profit but missed the fact it had reached this far. Not to worry, lesson learned and it still closed out in the positives!

Trade 2 - EUR/USD - Sold @ 1.2237 - 3pm Bar - Closed @ 1.2276 = -39 pips

Trade 3 - GBP/USD - Sold @ 1.4730 - 3pm Bar - Closed @ 1.4791 = -61 pips

Both trade 2 and 3 come with the same explanation, i got in too early. I interpreted the second bar in each to picture to be an upthrust but they turned out to be something else, as you can see below in trade 5 and 6 i got into a sell at a later time. I've learned my lesson for these. Just need to be more careful.

Trade 4 - USD/CHF - Bought @ 1.1372 - 3pm Bar - Closed @ 1.1432 = +60 pips

Quite happy with this trade and it certainly softened the impact of the previous two trades. Bottom reversal.

Trade 5 - EUR/USD - Sold @ 1.2228 - 7pm Bar - Closed @ 1.2213 = +15 pips

Trade 6 - GBP/USD - Sold @ 1.4740 - 7pm Bar - Closed @ 1.4732 = +8 pips

Bar 3 in each picture were upthrusts and i managed to short it to gain a few pips. Bar 4 was the profit bar. Unfortunately it was late enough in the day so there wasn't a great deal of movement. I feel this will continue to drift down overnight. Something to look out for in the morning.

Note; Cable went sideways overnight where as Eddie continued to drift down, something to watch for next week might be to consider staying in the trade for a longer time frame.

• Day = -13 pips
• Week = -13 pips
• Month = +534 pips

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

Trade 12 - GBP/JPY - Sold @ 134.56 - 11am Bar - Closed @ 134.16 = +40 pips

A good trade i feel, something to look into for next week is to set three profit targets, low, medium and high. This moved to +191 pips at it's highest part. When setting targets we can move the stops to hopefully achieve a greater gain. Still +40 is a good profit.

• Day = +40 pips
• Week = +280 pips
• Month = +547 pips

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

Trade 11 - JPY/USD - Bought @ 91.16 - 11am Bar - Closed @ 91.27 = +11 pips

Slow enough day today, 1 trade gaining 11 pips. Still, i guess those days will happen! Profit nonetheless. This trade was up around 32 pips at one stage so didn't quite make the profit target.

• Day = +11 pips
• Week = +240 pips
• Month = +507 pips

• 7am - no trade
• 11am - no trade
• 3pm - no trade
• 7pm - 4 trades
• 11pm - no trade
• 3am - asleep!

Quite happy with todays trades, all turned out as wins and i stuck to the methodology that i'm trying for this week. What i'm particularly pleased with is having the patience to wait until 7pm to take any trades. At a few times during today i felt a little impatient that i wasn't really seeing anything worth trading. I just had to keep telling myself that patience was key. In the end it paid dividends.

The four trades i took today are as follows; each trade didn't reach a profit target of +40 so i let them close out at the end of the 4 hour bar.

Trade 7 - GBP/USD - Sold @ 1.4546 - 7pm Bar - Closed @ 1.4536 = +10 pips

The 3d bar represents an upthrust and the profit was made on the 4th bar in the picture, if the trade had been earlier in the day there may have been a bit more movement as this was quite a strong signal.

Trade 8 - EUR/USD - Sold @ 1.2014 - 7pm Bar - Closed @ 1.1984 = +30 pips

Again, another upthrust, much the same as Cable, if it had been earlier in the day this could've moved a bit, may well be some more movement tomorrow morning.

Trade 9 - USD/CAD - Bought @ 1.0414 - 7pm Bar - Closed @ 1.0443 = +29 pips

The opposite to an upthrust is represented in the 3rd bar, this is known as a test. Profit was made on the 4th bar, just fell short of the target of 40 pips.

Trade 10 - USD/CHF - Bought @ 1.1469 - 7pm Bar - Closed @ 1.1480 = +11 pips

Again, another test, much the same as the trade on the Loony.

Another good day!

• Day = +80 pips
• Week = +229 pips
• Month = +496 pips

• 7am - no trade
• 11am - no trade
• 3pm - 2 trades
• 7pm - 1 trade
• 11pm -
• 3am - asleep!

Trade 4 - AUD/USD - Bought @ 0.8177 - 3pm Bar - Closed @ 1.8217 = +40 pips

Went in after seeing the bottom reversal as shown in the first two bars in the picture, hit the profit target that i set of +40pips, as you can see it went a great deal further, but still +40 is good!


Trade 5 - EUR/CAD - Bought @ 1.2600 - 3pm Bar - Closed @ 1.2554 = -46 pips

Not sure about this one, i thought it was a test, having said that, there wasn't a great deal of volume, basically i got this wrong. These things will happen. At one stage this was at +51, my profit target was 60 so it didn't quite make it. In retrospect i did notice the market beginning to turn so i should've got out. I decided to stick to the strategy though.
Trade 6 - GBP/USD - Bought @ 1.4397 - 7pm Bar - Closed @ 1.4437 = +40 pips

Quite happy with this trade as it reclaimed most of the pips lost in the previous trade. A test type bar followed by an upward move. Hit the profit target of +40 and again kept going.

A great start to the week nonetheless!

• Day = +34 pips
• Week = +149 pips
• Month = +416 pips