Tuesday, 20 April 2010

A better start to the week.

Well the start of a new week has brought renewed confidence for me in my trading. Having spent last week in the LTR with Phil and the other guys, I got back on track after what was a pretty horrid start to last week. I realised around Thursday time, that I had been deviating from my trade plan without realising it, and was, for want of a better word, "freestyling" my trading. Meaning I was making it up as I went along, based on what I thought was my trading plan.

Some of my early morning trades from Monday 19th

EURUSD short @.3445. This is still open, and hasn't quite reached any targets yet, but has been managed as per the rules.

GBPJPY long @ 140.15. This hit 1st target, and has since been stopped out based off my trade management.

This pair set up another ideal bar entry that triggered long @ 140.65. This happened around 2pm GMT.

AUDJPY short @ 84.35. This didn't quite manage to hit any targets, and similar to the GJ, has since triggered a new long trade based off new ideal bar setups.

GBPUSD short @.5230. This managed to hit my 1st intraday target, before stopping that part of my trade out. Swinger was still open until not that long ago. New long trade has now triggered @.5280, with 1st and 2nd intraday targets being hit. Daily ATR has reached >65% and price seems to have responded to this level by slowing down, and holding where it is as of 4pm GMT. (hopefully see some of those 4:30 moves :) )

So although a slight negative points return so far, I'm a lot happier with the wa I have traded my plan

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