I'm not going to lie, I spent the majority of the day (Friday) hung over and not doing a whole lot! I had work for the evening so i'm only getting around to posting now.

I took two trades on EUR/USD on Thursday, both of which got stopped. Before going to work in the morning I took a long position which was stopped out very quickly. Seemed like a good set up to me, a test in to the 50% area of Wednesday's highest volume area. I'm pretty sure i'd take the set up again if it arose. They're not all going to work I guess. Once I got taken in and it pushed down and out of the zone I was looking for shorts. I got a great short set up and no demand entry into the low of the same zone. I was very happy with this entry and again, i'd take it time and time again. 

Two things worked against me;

1. I tried to be smart and get one up on the market by placing a tight stop, too tight. I had 2 options for a stop, tight and not so tight, I took the tight option and got stopped, whereas the other option wouldn't have been stopped.

2. Official Bank Rate announcement in the UK. A bullshit announcement and something they haven't changed for as long as I can remember. EU reacted to this and I got stopped, right before the huge push down. I pay very little attention to news these days apart from knowing when something is coming up,  I took the short entry an hour before the news and thought it would be fine. 

EUR/USD 15min

So that unfortunately undid the work from Monday and I finished the week -1.92% and my account at the lowest point. And to think I sold on Monday at 1.2620 and we hit a low of 1.2260 today! 360 pips later! Something to think about for the weekend anyway.

Have a great weekend everyone and i'll catch you all again on Tuesday morning for Mondays update.

Cheers,

Liam

As it was Independence day in the US I was only going to be trading for the London session. I was looking for shorts in the morning and was unfortunate not to get one as per my rules. As shown on the chart below I had identified the area to look for a short but I didn't get the no demand entry I was looking for. It was close but the bar pushed down and closed on it's lows in the last few moments of the bar.  

EUR/USD 15min

I was working yesterday morning and was quite busy so I didn't get any trades in during the day. There was one opportunity in the morning not long after I got to work but I wasn't looking at the screen at the time so I missed it. The trade and entry was good for 1:1 on the first half and the second half would've been stopped at BE+1. 

EUR/USD 15min

A no demand entry into 50% of Monday's high volume zone. I was looking for another entry on a revisit to the 50% but I didn't get my entry as the bars closed with too much volume to be no demand so I didn't place my order. In retrospect maybe I could've placed my order in keeping with the first ND but this isn't something i've factored into my trading plan, so probably better off that I didn't do that.

Cheers,

Liam

I've been coming across some great new music lately. I was given some Ben Howard for my birthday and yesterday my sister showed me a guy called Matt Corby. This is just excellent! The studio version is really good too.

 Balcony TV

 EP Version

A couple of weeks ago I dusted off my acoustic (and it really needed dusting off) and restrung it. I've been tinkering around playing a lot more and am again falling in love with writing and learning music. It really helps as a distraction when i've got a trade running as well. I absolutely love this guitar, it was my Dad's originally but i've laid claim to it now! Just seems to get better and better with age.

Guitar Headstock

Guitar Unstrung

Guitar Restrung

Great start to the week with a 2.11% gain from a EUR/USD (there's a surprise!) short.

I chose to close it early but within my strategy as it was a very likely place for a reversal. If I hadn't closed it i'd still be in the trade now as it basically went sideways over night and wouldn't have caught my stop. The first half was closed at 1:1 as normal and I let the second half run for a while. Once I saw we weren't going to break the 50% of Friday's zone I decided to close it. It actually got pretty close to the next target - 8 pips away at 1.2560 but didn't quite make it. Still, i'm very happy with the gain, covers Friday's loss and gives me a great start to the week with which to build on. Most of the info is annotated on the charts below.

First is the 15min charts with the relevant zones marked; 

 EUR/USD 15min

5min chart with my entry and reasons for closing;

EUR/USD 5min