DAY 30 UPDATE (04-18-19)
Hey Journal
How’s the pip hunting going guys?
No of Trades so far: 7
No of Active Trades: 2
Profit Trades: 2
Losing Trades: 2
Break Even Trades: 1
So what’s happened since the last time?
USDCHF reached take profit and some:
I’m out fully on both positions opened at entry, even as price seems to keep surging on,
PS: two errors came out of this trade:
First, I opened only half position (split into two) Instead of a full 2% as strategy dictated, I set limit orders sometime later but price never retraced back to that level as you can see:
Second, unfortunately I couldn’t access the SSI reading needed to decide whether to close both positions or just one and leave the other running (Poor internet connection). I’m working on ways to prevent this in the future, gimme a spanking if that affects my trade another time.
What did those two issues cost my trading account? Well, only 3% equity gain, coming at a time when I’ve been hovering just above break even for the better part of three weeks.
This is another reason why demo trading exists, I get to make the mistakes here so i don’t make them playing with real money. It also shows why taking advantage of trading opportunities best as I can is damn important as you never know the ‘trade of the month’ before hand. This USDCHF trade would have set me up by a nice tentative 5% profit for the month.
So these rules have been added already to my evening routine (yep, evening routine comes first now, as it’s evening here on my end at New York close, why didn’t I think of that before? ).
Alright, what other thing?
Ah yes, UJ is still playing around juuuusttttt above that former resistance level, little price movement but I’d say that level is confirmed as price has managed to stay in consolidation above it a three days in a row now, see below:
buy order on this pair is already active and we’re looking to see what happens now.
Finally, NZDUSD finally makes a confirmed breakdown today, candle hasn’t closed yet but it’s more or less almost certain to close below the level as seen below:
Coming off of that triple top I’d say I’m trusting that breakdwon even more, if it is in line with my breakout strategy I’ll be shorting this on New York close, hopefully we get to see it move further down netting some pips and then turning around for a retest of that level again, giving a convincing PA to go short.
Alright, that’s my story for the day, How’d trading go for you guys today too, would love to hear?