Forex Trading 07/01/10

By the time I had finished my self-hypnosis session the markets had started to move. I felt that it was a little too early at 05:30 to be considering. The entry point I had considered was 15987. With hindsight I should have ignored my inner talk and lowered my ppp (Pound Per Point) and traded. I even ignored the signals again at 06:40, by this time it had reversed back up past my entry point then proceeded to short from 06:45. The first trade would probably have netted me 10+ points, it actually moved approx 20+ points short and the second would have been 20+, and this one actually went to around 40 points.

I finally traded GBP/USD at 08:27 and exited around 08;45 with a smidgen over 15 points.


That was my only trade of the morning, what on earth was I looking at. There should have been at least 1 other trade. Perhaps I was too deep in trance!

Well this afternoon was a little different. Get this…I traded EUR/USD, I will give you time to pick yourself up off the floor…yes it is true EUR/USD, my mate Neville who is jaunting around the world at the moment with his lovely wife, trades it all the time. So I thought well if it is good enough for Neville then it is good enough for me. Let me tell you it is that long since I traded this pair I cannot remember. Well out of my comfort zone. Because I have not properly studied and traded this pair I have to say and I am not kidding when I say it, I was nervous. Not knowing how pairs react to certain times of the day and different market opening times. So without further ado here is the chart…


My aim for this trade was really to see how I reacted to it. I have to say when it retraced past my entry, I had thoughts of oh well never mind, this is why you don’t trade this pair. I have an old Orange SPV, can anyone remember them? Well I am giving it to charity and wanted to wipe it and the only charger I have is a car one so went outside and sat in the car for 20 minutes, came back in to see that if I had put a limit of 10 in place then I would have had my points. I did wonder about getting out with 1 point however even in this screenshot you can see the trend so I decided to wait it out. I made up my mind that from this trade I wanted 15 points and would be happy with 10+. I hit the get out button on approx 15 and ended with 11.2. Happy as Larry.

I traded cable a further 2 times for 10 points each time, so I ended the day with a grand total of 46 points. Not bad really.

Oh isn’t trading easy!!!

Just as a point to note, it is Non-Farm Employment Change tomorrow at 13:30 UK time and this usually makes Cable volatile.

To your trading success

The Investor Guru

PS Please could you make comments and suggestions of what you would like to see and read about, also about the current layout and how I can improve it.