Posts Tagged trading currencies
![GBPUSD - all in a days trading (or not)]()
Today I woke up early and was rather more alert than usual. This is not a good thing necessarily when it comes to trading.. certainly not in my case. I saw that the market had consolidated from yesterday after shooting up strongly. A consolidation usually happens after any particularly large moves so rather normal.. however, the market could have easily topped here or just biding time before heading higher. I wanted to play it safe so I didn't trade...
The 4-to-7 trading system's range was 14
June 15, 2010
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This is the third time this has happened in the last 3 days.. the first trade is a loss and the second trade is a winner resulting in a net deficit of -20 pips
The first trade was a long as the market just peaks above the high line and then promptly falls both hitting the stop for the trade for -50 and then initiating the downside trade. The downside movement was quite large (almost 100 pips under the lower band) and I captured 30 of them.
June 3, 2010
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I got hit again with this... the first trade initiate above the upper line at 14753 going only 15 points before falling away. The stop got hit and the short initiated. The short make some good movement however and I got my 30 pips. However, the first trade had a 50 pip stop so I'm overall -20 for the day
June 2, 2010
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