I was relatively disciplined today. I started my session at 8.55am but stopped at 9.27am as there was an announcement at 9.30am that affected the Cable. The spread jumped from 2 pips to 15 pips between 9.30am and 9.33am and then reverted back to a 2 pip spread. I checked the Forex Factory announcement website to ensure the announcement results were published before commencing my session again at 9.33am.
I didn’t enter my first trade today until 9.47am. However, it was a poor trade. It yielded 0 pips, but by no means was this a well executed trade as you can see from the duration of the trade in my activity window – the length of this trade wasn’t the only thing that I did wrong. This aspect of my mindset, I have to, have to change – better GOWID and better entry points. I would then be in a much better place.
Trade number 2 took place almost 30 minutes later. This sell trade on the other hand was better, in that I GOWID to break even again for 0 pips. The trade held as soon as I had entered but it didn’t of course go positive straight away – the Swissy fired off upwards, the Euro pushed down, but not a great deal and the Cable held. So I felt relatively confident that the Cable would go down eventually. But after holding its position for over 3 minutes, I decided to GOWID for 0 pips. I then made the decision to close the platform for the day. It felt good in making this decision instead of going for a third trade.
My session today was quite long again, almost 1½ hours, so I am being quite patient, that’s a good thing. It is tough though, I was stopping myself again at various points from entering hopeful trades.
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