Good evening all,
Well I cannot say too much about today's trading apart from WoooHooo 106 points, and to think that I don't really trade in the mornings on a Wednesday. I attend a course so normally do not trade till around 15:00 GMT Wednesday’s.
This morning I got up at my normal time 05:00 GMT dark and cold at that hour. I do like to look at the markets and the sit, relax and then give myself time for some self-hypnosis; it sets me up for a very good day. Today was a little different though, when I looked at the GBP/USD (Cable) charts the S1 pivot was sat in a very nice place around 14950. I looked and thought if it breaks that pivot it could go all the way to the S2 pivot at 14890. Well I first got in for 10 points at 14962 to 14952, right onto the pivot. I had some breakfast then came back and was really quite shocked at how far GBP/USD (Cable) had dropped beyond 50. The price was stopped around 14930 so I decided trade it one last time before getting myself and the girls (my daughters) ready for school. No sooner had I entered the trade around 07:15 I was out with another 10. I was a little cross with myself because of the limit I had put on because I was sure that it would drop below 20 and down to the S2 which I had earlier thought. So I opened up another ticket at 14926 this time I put a limit of 30 on which would allow for the pair to get down to S2 at 14890, and then I went for a shower. I came back 10 minutes later and I was nearly at my 30 point limit, I didn’t have to wait long though and that was that, 50 points and its only just gone 08:00. I was literally trading in the zone. The day was only going to get better.
When I arrived back to watch the different charts GBP/USD (Cable), EUR/USD (Fiber), Daily US Light Crude (Oil) and one that I had not traded before, although one that a very good friend Adrian H said was a good mover AUD/USD (Australian Dollar).
The Oil trade on a Wednesday is the breakout after the 15:30 announcement. So basically you wait for the candle to finish and then wait for the following candles to breakout of either of the ends, today it was a long trade and I didn’t have to wait very long either.
So my friends Nev C and Adrian H and my trading were really hitting the highs and we were all in the zone. The next trades came off Cable (17.4) 2 trades, Fiber (10) and AUD/USD (10).
It sounds so easy, I can say that one of the cable trades and the Fiber trade were difficult at times. Having watched the signals from my trading system say to get in only for the pairs to immediately reverse. When things like that happen you have to be mentally tough. Specifically the Fiber trade, it reversed to the point where my stop was, I have the ultimate confidence in my strategy and although it can go against you and me, I raised my stop way past I would normally. The trade was somewhere close to 30 points against when it again reversed, just before I did consider closing the trade out. I was pacing my office and then I caught sight of my 8 pointed star on the wall, the word DISCIPLINE appeared to stand out. I sat down and watched and waited. I won’t say soon enough it was all good and I was 10 points to the good. I will say that the mental toughness and discipline kept me going and was very happy when I was at break even. However it wasn’t long after it first got back down to this level that it blasted straight through and I eventually took 10. The other trades were slightly more encouraging and didn’t strain the nerves.
The best being AUD/USD which from the moment of entering the trade I was straight into profit, I have to say that the generous spread of 2 points that IG Index give makes this pair very good to trade and some other pairs like GBP/JPY (8 point) less interesting.
I am going to go and have some dinner now.
To Your Trading Success
The Investor Guru
Well I cannot say too much about today's trading apart from WoooHooo 106 points, and to think that I don't really trade in the mornings on a Wednesday. I attend a course so normally do not trade till around 15:00 GMT Wednesday’s.
This morning I got up at my normal time 05:00 GMT dark and cold at that hour. I do like to look at the markets and the sit, relax and then give myself time for some self-hypnosis; it sets me up for a very good day. Today was a little different though, when I looked at the GBP/USD (Cable) charts the S1 pivot was sat in a very nice place around 14950. I looked and thought if it breaks that pivot it could go all the way to the S2 pivot at 14890. Well I first got in for 10 points at 14962 to 14952, right onto the pivot. I had some breakfast then came back and was really quite shocked at how far GBP/USD (Cable) had dropped beyond 50. The price was stopped around 14930 so I decided trade it one last time before getting myself and the girls (my daughters) ready for school. No sooner had I entered the trade around 07:15 I was out with another 10. I was a little cross with myself because of the limit I had put on because I was sure that it would drop below 20 and down to the S2 which I had earlier thought. So I opened up another ticket at 14926 this time I put a limit of 30 on which would allow for the pair to get down to S2 at 14890, and then I went for a shower. I came back 10 minutes later and I was nearly at my 30 point limit, I didn’t have to wait long though and that was that, 50 points and its only just gone 08:00. I was literally trading in the zone. The day was only going to get better.
When I arrived back to watch the different charts GBP/USD (Cable), EUR/USD (Fiber), Daily US Light Crude (Oil) and one that I had not traded before, although one that a very good friend Adrian H said was a good mover AUD/USD (Australian Dollar).
The Oil trade on a Wednesday is the breakout after the 15:30 announcement. So basically you wait for the candle to finish and then wait for the following candles to breakout of either of the ends, today it was a long trade and I didn’t have to wait very long either.
So my friends Nev C and Adrian H and my trading were really hitting the highs and we were all in the zone. The next trades came off Cable (17.4) 2 trades, Fiber (10) and AUD/USD (10).
It sounds so easy, I can say that one of the cable trades and the Fiber trade were difficult at times. Having watched the signals from my trading system say to get in only for the pairs to immediately reverse. When things like that happen you have to be mentally tough. Specifically the Fiber trade, it reversed to the point where my stop was, I have the ultimate confidence in my strategy and although it can go against you and me, I raised my stop way past I would normally. The trade was somewhere close to 30 points against when it again reversed, just before I did consider closing the trade out. I was pacing my office and then I caught sight of my 8 pointed star on the wall, the word DISCIPLINE appeared to stand out. I sat down and watched and waited. I won’t say soon enough it was all good and I was 10 points to the good. I will say that the mental toughness and discipline kept me going and was very happy when I was at break even. However it wasn’t long after it first got back down to this level that it blasted straight through and I eventually took 10. The other trades were slightly more encouraging and didn’t strain the nerves.
The best being AUD/USD which from the moment of entering the trade I was straight into profit, I have to say that the generous spread of 2 points that IG Index give makes this pair very good to trade and some other pairs like GBP/JPY (8 point) less interesting.
I am going to go and have some dinner now.
To Your Trading Success
The Investor Guru
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