Forex Trading 11/01/10

Back to it and fully recharged, well recharged. So I was up and eating breakfast early this morning as I was on the school run, had to be out of the house by 08:10.

I have to tell you that before my first trade this morning I was looking at my mate Kofi’s blog and he has changed the appearance. It looks really cool and I have to say that I am a little jealous. Which brings me round to mine…this will be changing over the next couple of weeks, you will get the link’s so don’t worry you will not miss out.

So today’s trades, 6 in total today with at least 2 where I was kicking myself after

I placed 2 trades at the same time over different accounts. The indicators I use were all for a long, MACD & Stochastic.


I set an entry order for 16113.0 and my reason for going in on 2 accounts was purely based on the good movements on the candles before. The entry was placed 5 points above R1 (16108.0).


I took 9.2 and 7.9 respectively. I didn’t trade the retracement and the very next time when it again went through the same price. Kofi did, good lad. By the time I had got back from dropping my little darlings then the post office to send out some of my Mindset for Trading CD’s. Cable was ready to trade again.


I made a mistake with this trade I clicked my limit button and forgot to change the price. As the traders out there with FXCM accounts will know that when you do this it automatically places your last limit in, and in my case this was 12 points.

That was the morning over and done with.

My next trades were all short 3 in total…and this is where I made some very bad mistakes, I didn’t follow my own rules. The first was for 11 points, it was a long time coming and it is one of those trades and I am sure you are all laughing with me on this one…you get out with 11 points…30 seconds later it suddenly moves and you would have been 20 up.


Laugh on the previous trade I may, I certainly didn’t on the next two. If I thought it would do any better than saying disgusted I would swear here. Golden rules broken on both trades.

Each trade should have at least netted 10 points. So the rule that is broken was – what I ask myself on entering the trades
Question: What do I want from the trade?
Answer: 20 points
Question: What would I be happy?
Answer: 7.5-15 points

So now you can see why I am disgusted. These were my last trades of the day, time to go and reflect on the days trading and of course to post this blog so all my friends can keep up with me.


Oh well onwards and upwards. Till tomorrow.

To your Trading Success

The Investor Guru

PS Tell me what you think.