Loss of 30 pips on cable on Wednesday but gained it back in the afternoon. The trade took so long I nearly fell asleep... Nearly two hours before I got back the 30 pips I lost. Not my kind of trade....
Today is non farm day which I am very much looking forward to. I took 30 pips on cable this morning but missed many more. Knowing a forex pairing is vital to trading it. Today cable began going long at 6.45 am.
As you know, I tend not to trade this until after 7 due to the false indications you get. But on this occasion the jump was too significant. So myself and Adrian my trading partner entered the trade early. He got in at a slightly better price and took 25 pips. I held on for 30 nice ones.....
Always much debate about trading announcements...I took an additional 20 pips to take my weekly number to above 100 and my daily number of pips to 50. We have a strategy to trade announcements, so I look at it as a calculated risk.
I made the trade more difficult as I did not adjust to Ig's trading rules change. When I finally had limits etc correct it had moved past my entry point. But looking at the news that unemployment in the US was better than expected! I assessed it was good for an additional 20 pips.
If entry had been where I originally wanted I would have taken 50 pips. All in all another great week, over 100 pips again and a nice percentage growth in my account.
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Nice Trading mate. Your entries are intersting, would be nice to know your reason for each each entry and where and how you manage your trade with stops.
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