Hello everyone,
I thought I would post my trade log just so you guys can see how I am trading.
Trade #1
Long Eur at 1.3013
Notes
The 1/h and 4/h WMA slope where up so I felt good about this trade. However, it did pose some psychological problems with me. When I first got into the trade it shot up 10 pips and then down 10 pips. Then it went + and - 5-10 pips for an hour or two. Finally a few hours later at 0900 the WMA crossed the 21 EMA. So I am feeling good about this trade and soon to move S/L (stop loss) to B/E (break even). If price gets near my take profit I will move it further up. I am not sure how I am going to let me profits run. I may wait for the 30 minute WMA slope to change to get out. That may prove good enough in letting my profits run and cutting my losses short. However, I will close it out be the end of New York session.
Conclusion
The market was ranging today. Following my system I stayed in it for several hours. But then during the 1100 hour the market took another swift move down and I closed out my position with 1 pip. It is better then a lost. I can not say I am happy with my decussion to get out because the market went back up a few minutes later. It has been doing that all day. However, it was justified to get out, the 1/h WMA started to slope down. However, on the move up the WMA started to flatten. Today hasn’t been a great day for trading. But I expect many more of these days. I cut my losses short but was unable to allow my profits to grow. All in all I am happy with my first day of trading.
