Posts Tagged Trading
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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I put on my usual breakout trade.. the entry was either going to be a short at 1.5438 or a long at 1.5465, both with a 30 pip limit and a stop loss at the other end of the channel. I am only trading one lot currently due to the fact that I cannot control the order once I have put it in on my iPhone. Most of the movement in the market happens during my commute into the office so it's pretty dangerous... until they can sort that on the iPhone trading, will I feel more comfortable trading it.
An
April 27, 2010
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