Daylight Tartışma

Well I have now started my live trading account, after 3 months of demo trading. My goal is 10% per month gain on this account, anything more is welcome, however 10% is my target. This will be compounded on a monthly basis, and I will not be withdrawing money from the account. My trading plan only calls for me to make a handfull of trades a month, therefore I have no daily or weekly goals.

My first trade has been a success, and I am on target. From here on in these are the attributes I would like my trading to be defined by.

 1. Patience
 2. Discipline
 3. Focus

Good luck

This is the first update on my progress. Two weeks into Feb and I am well ahead of target. Two winning trades for 132 pips total. Pretty happy with the trades, although identified a few mistakes that'll need to be worked on. I'll be looking for opportunities to take for the rest of the month, although I need to see one that really looks perfect, otherwise will not chase the game. Patience and discipline

😄

I have just gone long on EUR/GBP ENT 0.81000 STP 0.80500 TRG 0.82000

I have entered this trade based on the following reasons
 Well-formed bullish pin bar on D1 chart
 8 – 21 day EMA’s crossed to the upside
 Rejecting an area of resistance dating back to 2008
 Rejecting both EMA’s
 Weekly chart pin bar still intact and good indication of momentum shift
 Momentum looks to have shifted to bullish.
 Momentum bullish on 4H chart

Should the trade fail these are reasons I can think of to have had caution over.
 Euro still in uncertainty (fundamental analysis)
 Could be the end of recent correction and may have been more probable
 to look for a sell signal to resume longer term bearish momentum.
 Possibly buying into support.

Lets see what happens

Well just an update on my EURGBP trade. I went into the weekend about 10 pips down and the bullish momentum looking like it was slowing down. I was nervous about the trade, but decided to hang on into the weekend and not exit manually. However the market gapped open around 50 points on Sunday evening, and seeing as the gap worked in my favour I closed my position for a nice profit. The reasons for me closing my trade manually was previous bullish momentum stalling and then a weekend gap opening, my feeling was the gap would close very quickly and my position was 1 x risk up. Banked the profit and move on to the next trade.

What I take from the trade is that my initial analysis was incorrect and that had I held the trade I would have been stopped out for 1 x risk. The pinbar was well formed at a decent level, however after the recent bearish momentum a signal to go long need to be a lot more obvious, and in retrospect this pinbar was not sticking out like a sore thumb.

I got lucky, but am pleased that I managed my trade correctly.

I'm looking for further options and will post any trade I take, however at the moment I don't see anything solid and most markets showing a bit of sideways chop.

Till next time, happy trading.