Not much action lately. I need to update my plan. I've been getting stopped out too much. I'm going to go back to 1 lot per trade with about a $2.00 stoploss. That should give about 20? pips of leeway and prevent from getting stopped out so much before taking profit.

I'm also considering trading a single lot on the 4 hour charts just following the trend. Whenever there is a cross over, placed a trade and the trailing the stops. Maybe a 10 - 15 pip stoploss with a 40 pip take profit on the 4 hour charts. I'll update my account status later. Also want to update it on meetpips.com to track my trades there.

Aaarrg!

I was exhausted last night so I didn't even turn on the computer to watch for any trades, but I'm sitting here now watching GBP drop like it's hot. I was hoping for the price to do a big pull back and then enter in to it. That would of been a nice end to the week. Looks like it would of been a nice 50 pip trade atleast. :(

Stooopid mistakes

Oh man. I did a doozy of a mistake. When switching from my 'charting' chart and over to my 'action' chart I misplaced my take profit point by about 10 pips out, so I ended up missing my pips and instead it completely dropped out for a very large loss. There was some very screwy action again last night, some more possible fake outs. I'm not sure if I'm going to trade tonight or just take off till next week.

The aggravating part of it is that I noticed my mistake and pulled my take profit down to where it should be, but the price had already started to recede by then and it stayed just 2 pips away from my new take profit before plummeting.

I swear sometimes it seems like there is someone on the other side of the screen just watching your trades and making the market turns against you. You short, sudden the market climbs, you go long, the market drops. :p Is Big Brother out there sniping your trades?!

missed day

Unfortunately I was so exhausted I didn't even hear my alerts going off last night, so I missed a few possible trades then and this morning. I looks like there would of been 3-4 good trades. Oh well, better to miss a trade then to enter a bad one. There's always tomorrow to trade.

fresh start

The start of the new week, a chance to move on from the mistakes of the past, and there were some great opportunities to do just that Monday night/Tues morn. I was able to grab about 30 pips, but unfortunately I had to leave at 4:30 am and didn't get to look at the charts again until around 9:30 am. In that time there was a HUGE drop! Congrats to anyone that was able to capture that. I'm sure that would of been one of those trades that made you feel invincible, if you were on the right side of it!

I made I think about 7 dollars total from todays trades, so I'm still in the negative from where I started. I know if I would of been able to grab that big drop today that would of definately moved me into the black. Hopefully the rest of the week will continue the trend and maybe I can be back to break even or in the positive cash by then!

Happy trading!

9/15/2009 0:13 1.66219 - Long
9/15/2009 2:03 1.66491

9/15/2009 3:02 1.66140 - Long
9/15/2009 3:39 1.66016