An ok finish to the week

I started early as planned at 7.24am and finished quite early at 8.07am for an overall 0 pips off one sell trade and two buy trade.

The first trade at 7.59am, after just over 30 minutes of watching, was a bit of a gamble. I watched the Cable move up with some correlation and momentum to 1.5439 and then reverse to around 1.5435 three or four times in a row. So I decided to get in on a sell trade, if or, the next time it reached back up to 1.5439. And when it did, I jumped in, by the time the system had executed the trade my entry point was at 1.5437 and 21 seconds later was 4 pips in profit, so I jumped out using GOWID.

As soon as I had exited the above trade, the Cable reversed dramatically, and shot back upwards by 20 pips. I was still quite dazed by the 4 pips that I got off the last trade and without really thinking got into another trade, this time a buy – clearly hoping to get some of the momentum on the Cable’s upward move. This trade was definitely a poor decision and I was slow to GOWID leaving me with -4 pips, negating the gains made on the previous trade.

I stepped back now. I didn’t want a repetition of the last trade and so started watching carefully for the criteria I need. It wasn’t long before another buy opportunity presented itself. So in I went, but GOWID for 0 pips.

The weeks round up then;

Mon -3 pips

Tues +4 pips

Wed -7 pips

Thurs +2 pips

Fri 0 pips

Total for the week, -4 pips.

I’m not going to give myself too hard a time for this week, though my actions on Wednesday and Friday could have been that much better. I am going to push forward but keep my pip value at 20p per pip for next week as well until I learn to remain patient on days like Wednesday and Friday of this week where my patience levels were somewhat lacking.