My EUR Daytrading!

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

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.

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.

Good luck with your trading.
Trading today is so poor indeed, and rangebound.

We can only mention some strong GBP moves.

My charts are too big for now. So until I get my act together with Gimp I won’t be posting any.

Trade 2
Short EUR at 1.3015

Hopefully today will work out better than yesterday!

Trade 3

Short EUR at 1.2973

Closed for 30 pips

I woke up late today and missed the majority of the move down. I Short Eur at 1.2906 and was hopping for a bigger move down that didn’t happen. Eventually got stopped out with no P/L. Which if fine by me. This week I haven’t gained many pips but I have lost even fewer!

So now it is time to wait for trade #5 to come around. I need to stop sleeping in and get up at 0430 :confused:

This morning I made several newbie mistakes. So my weekly profit of 1.5% went to -0.005%. I didn’t follow me own rules and look what happen? Got over confident and that clouded my judgment.

Well I have had a good start this week. I have made a total of 5 trade. 2 of which were no ideal for my system and I got out at break even. The other 3 were for 20 pips. I am a little disappointed in those trades because I could of easily bagged 40 on each. Oh well, still need to work on my TP technique. However, I shouldn’t complain too much. I am up 3% for the week. This week is probably an easy trading week though due to the lack of major news announcements. Tomorrow is IFO! Watch out…

I plan to bag another 20 pips during the next London session and be out before IFO!

Here are the pictures for my three winners. My 2 losers where at break even so I won’t post those charts.

Trade #1

Trade #3

Trade #5