Trading Diary Tuesday 21st July

Nice pips available again this morning if you had played the one hour strategy. Unfortunately I didn't! I was very twitchy as you can see in the chart by my multiple entry's.

Got out of my original trade too early, I took 9 pips initially and had nearly 20 at one point on (Fig:1) my first entry. The reason for my irrational behaviour was based on the break of the first pivot.

The candle was retracting fast after it broke the pivot and I took 9 pips. Two green upward candles followed before a huge red. I should have stuck it out but you can never tell. I have seen huge retractions around pivots and then eventually the trade goes in the opposite direction.

My time frame means I only have a 20 - 30pips stop loss so you have to be careful,
I had that feeling so got out. I then noticed it coming back down and re-entered for another
7 pips. So 15 in total!

(Fig:1)


The trade looked a lot different on the 1 hour strategy, you have a wider stop loss and I would have easily taken 40 pips. I am not playing this correctly and there is potential to trade the breakout for 20 pips. Then enter on the hour if the signs are correct.....

(Fig:2)


I really need to focus more on the hour strategy as you can gain more points. But I have targets and as long as I get 20 pips per day then I'm happy. The name of the trading game is consistency.

I have been consistently winning since I started to purely focus on the breakout. I will increase my pounds per point if I have another two weeks at this level.

Have a fantastic Day!