Trading Diary Thurs 15th Oct 09

Did not trade yesterday as I attended the Brad Sugar event on business in Fulham. Got a nice 17 pips early morning on cable today, the nice type of in and out trade in 5 minutes. When I woke at 5.50 am gbp/usd had been channeling very nicely.

It made one attempt to break the mid pivot at 16072. It actually reached 16074 but I refused to take the trade because it was not 7 am and when Frankfurt opens it can send it anywhere.

It retracted and then dropped for two candles before going long. All signs were looking good so I entered the trade as soon as it broke the mid pivot again at16073 and exit 5 minutes later before the main resistance pivot line at 16100.



From my entry time of around 7.15am cable moved over 100 pips for the next three hours. No real reason for the move but plenty on offer.

I also traded usd/jpy for 15 pips and a sneaky trade on Eur/usd for 15 pips also. The latter two trades were using the pivot strategy that I have been testing and is now live.

Recession still on every ones mind, but if you follow the markets you will know that wall st is trying to break records. Interesting if you also follow the doom and gloom mentality of the press!

To Your Trading Success!