Posts Tagged daytrade
First day back after the Bank Holiday and back to trading the system. There was a largish 50 pip channel which always makes me feel a little uncomfortable placing the orders. The market also moved quite a bit just before 7am reaching which also makes me feel a little uncomfortable. However, trading a system means that I need to remain disciplined to pull the trigger.. even if I feel uncomfortable, this is the system.. I need to follow it to stand a chance of becoming successful.
So the orders
May 4, 2010
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Today I didn't quite follow the trading plan but I don't feel bad. The price range was between 15355 and 15316. The price broke towards the upside, my price entry was 15360 and my 30 pip target would have been 15390. Although the market did top out around that level (if I include the spread then it may not have triggered anyway), I took profit a little earlier since there was no upwards momentum. I close with +16 profits and the market duly fell afterwards.
April 30, 2010
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The graph today looks like a simple and straightforward set up... the upper barrier is 15288 and the lower band 15236. The market broke towards the downside and one would have claimed some nice and easy profit.. this is the trading system that I should be trading... however, I lost today!!
The biggest problem here was that I did not follow my trading system... to be a good trader, one needs to be disciplined and follow his or her system... I'd been talking about this and yet, I didn't follo
April 28, 2010
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