Forex Trading Diary 20th Jan 2010

Quick update on the week so far, I lost another 30 pips yesterday and made back 20 pips. When you trade, it is advisable, that you you close and open your computer in the morning so there are no hiccups! I didn't, and lost connection when I was recovering my 30 pips lost. 

My god you should have seen the panic on my face when I realized I had lost connection. Then the computer crashed...As Alex Ferguson would say it was bum squeaking time! It proved my lucky day and after 10 mins of panic, I logged back in and still had the opportunity to take 20 pips.

I was in profit by over 30 pips at one stage! After a year and a bit of trading the school boy errors have not been completely eliminated!

This morning I have taken a conservative 12 pips with the rest of the day to go. The new strategy I am testing has so far been 85% accurate and I think its time I started using it! But here is my morning trade so far, when you see the chart you will notice there was far more available. A retraction of the high in the last couple of days!

Date:        20 JAN 2010
Reference:    DIAAAAAEZSZ6VAF
Size:        Buy to close
Open Level:  16286
Market:      Spot FX GBP/USD 20 JAN 2010
Level:        16274

Another problem this week has been the major movements on the forex pairs from 12 midnight to 2. From what I can gather, this is being created by the Chinese. I don't see announcements for them on forex factory too often. But it has meant movement has been less when the market opens at 7am!

To Your Trading Success!