Posts Tagged trading blog
I had a really nice short in the GBPUSD market today with a trailing stop. I closed out early for 56 pips however when the market was retracing.. it retraced 25 points before it fell heavily (another 50 points) to 16500.
My actual exit is a trailing stop loss and it would have not hit it before it fell. The old trading adage 'cut your profits short and let your profits run' is a key principle to be successful in trading and I'm annoyed by myself that I broke the rule.
The chart is shown be
May 3, 2011
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![The Fake DOW triple top]()
Wow, the DOW really made a significant move today... it shot up and by the time I got home, I had missed all the action.
However, the market had consolidated around the 10350 level. The market had made such a tremendous move that I couldn't see it moving much higher. Hence my short, I saw a triple top form around 10350 in the 5 minute charts and sold at 10340 with a 20 point stop. However, it proved to be a fake and stopped me out.. it just broke and made a high for the day and then moved bac
July 22, 2010
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![Check out the last few days of daytrading results!]()
Hi all,
I've not been as diligent lately updating the blog with my entries and exits and posting my results. However, rest assured I'm still trading... much more so in fact. I am running a few trading strategies all at once on different markets and it's been working out very nicely so far.
On the GBPUSD I've managed to grab around 300 pips. The USDJPY, I've grabbed 50 pips and then some points on the DOW jones.
My profit table is looking very nice for the last few days... if only it's a
July 19, 2010
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