One good trade!

One out of the two trades I executed today was done well – it’s a start. I started at 8.15am and finished at 8.35am for +6 pips off one buy trade and one sell trade.

The first buy trade wasn’t executed very well at all – it was one my old style trades where I was waiting and hoping for it to go positive. Though it yielded +5 pips it could easily have been -5 pips or worse......the errors made – 1) not waiting for a better entry point, i.e. not waiting long enough from the point of sitting down to see better trades develop and 2) lack of GOWID.

The second sell trade could be argued as a well executed trade for +1 pip. I had been watching the Cable jerk up and down between a range of 7 pips a few times and on each occasion there were correlated moves by the Euro and the Swissy. So at what turned out to be the beginning of a downward move, I got in on a sell trade, grabbed a pip and GOWID. This trade was quite risky, but the fact is, following the rules worked in my favour.