Forex Trading Diary Tuesday 25th Nov 09

I meditated for a bit too long this morning. I didn't open the charts up until 6.50 am, cable (Pound/Dollar) was already moving. Easily could have got in at 16,638 for a long trade, that's because the histogram had just changed to indicate going long.

But I didn't like the fact that the European markets had not opened. I then revised my entry to above 16,650. This was broken at the usual time of 7.30 am. This Morning I was joined on my skype discussion by Kate.

We talked about how myself and Adrian trade the breakout of Cable in the morning. We also looked at what indicators are best and how to read them. At the same time of our discussion cable broke through the level I had set for entry and we all entered the trade.



As the chart says my entry was 16,654, Kate took 15 pips Adrian 12 pips to add to his total of 30 pips so far this morning. I waited a bit more than normal and held on for 20 pips on break of the next pivot at 16,670. Not really my style but my stop loss was at break even so I was playing for free.

Could be a bumper week and I'm looking forward to the announcement today of bank charges. Lets hope the government do the correct thing and allow many people across the UK to claim back the rip off charges.

Even better is if they allow consumers to claim back up to 1995 instead of 2007! Martin lewis will be happy, So will I...Very happy!

To Your Trading Success!