Week 2, Trade 12
Pair: EURGPB
Timeframe: 4H
Date: Jan 7/2011
Went Short at: 0.84082 (First blue area)
Closed at: 0.83593 (Second blue area)
Profit: + 50 pips
Comments: I manually moved my stop loss on this trade until it was finally hit.
When moving the stop loss manually, I should still give it some room to breathe. Had I done so, I could have doubled my profit on this trade.
I should have been more confident, especially because there was no resistance nearby to worry about.
Just another example that one does not need tons of indicators to trade. I like your technique. This is pretty much the same method i use for trading except that my timeframes are alot smaller i.e 5 min, 3 min and one min.
going through your trades it is pretty obvious that you are facing the same problem that many of us – new traders — face. You do not let your profits run. I suggest you to not keep a profit target in mind. Let your trade run and hit your stop loss (which you would keep moving as your trade progresses).
Good luck!
Hi Raza,
Glad to hear you’re using a similar method on smaller timeframes.
Like you said, I am trying to let the profits run more than I have been before. Still not that easy sometimes though. 
Week 2, Trade 13
Pair: EURCHF
Timeframe: 4H
Date: Jan 7/2011
Went Short at: 1.25138 (First blue area)
Closed at: 1.25129 (Second blue area)
Profit: + 1
Comments: Luckily I had a large stop on this one so it didn’t get hit.
I exited because it broke my trendline a couple of times and didn’t look like it would ever move the way I expected.
I ended up with a nice, fat, juicy total of one pip for my effort.
Week 2, Trade 14
Pair: AUDCAN
Timeframe: 4HR
Date: Jan 7/2011
Went Short at: 0.99004 (First blue area)
Closed at: 0.98878 (Second blue area)
Profit: + 12 pips
Comments: Another trade I was kind of hesitant on entering.
Maybe because the trendline was so steep, maybe because price had already dropped quite a bit and I had already gotten 88 pips from it.
But there was decent resistance with a pinbar and an inside bar right after that.
This one sliced through two support levels while I slept and then came back up. I guess I should have had a Take Profit set up for it.
I closed it because it was Friday afternoon.
Well, Week #2 was a [B]great[/B] week that quickly turned into a [B]good [/B]week. Good thing it ended before I could turn it into a crappy week.
One thing I didn’t pay attention to was the the U.S. Non - Farm Payroll Employment Report at the time of spikes in price at on Friday, January 7. Something to obviously keep in mind in the future.