Fat finger syndrome and my so far successful GBPUSD strategy
My morning trading system which I am using lately has been working pretty well… the more you commit to it, the more confidence you have in it.. however, it is important to stick to the system to ensure that you are indeed trading the system.. otherwise, you’re not trading the system that you think you are… hmm, sounds a bit philosophical!
Anyway, I thought I’d stick to the system and try something new today… I would open two trades at the same entry. The first would target 30 pips and the second would target 60 pips and the stoploss for the second would move to entry after the first 30 pips had been bagged.
Both entries were shorts at 15424 with the stop being at 15488. You can see from the chart below how it played out. The numbers indicate the two trades. The problem that I did was that for some reason I set up the second trade wrong and the stoploss moved too soon.. it went to 15455 before the first trade closed.
So, what happened was that as the markets hit the nice round number of 15400, the market retraced and hit my stop for the second trade (which of course shouldn’t have hit until the first target was reached). Ok, so that ended up a -31 pip loss. The first trade did go and hit for +30 however.
What is really annoying is that had I got my fat finger problem sorted, it would have been a lovely set of trades where both targets were hit for +30 and +60 for a total of +90.
Instead, I ended up with -1 for the day! Pah!
