Hello and welcome to today’s adventures in the Forex Jungle.
Just another simple, quick commentary today. I got to my desk at 06:45 this morning, and on logging in to my platform found the indicators pointing to a buy trade. I set up an order to open, entering @ 1.6025 looking to make a quick 30 pips. The profit limit was set to 1.6055.
The trade was triggered just after 07:15, and it initially looked like it was going to be a solid SAS type quick 30 pips in the bag. However, from around 07:30 it seemed to have reached its zenith, and the pair became like The Grand Old Duke of York, it couldn’t make up its mind whether it was going up or down.
That continued for a while, and when the economic data was released, that didn’t have any effect at first. By rights, it should have seen the £ gain. I looked back in on the charts at around 10:30 and decided that if I could, I would close the trade out at my entry point, but gravity took over. The indicators were beginning to turn, and I cut my losses @ 1.6015, minus 10 pips.
The indicators had picked up the earlier move to the upside, the problem there for me was the fact that it was at 04:00 and way too early for me. By the time I logged in the scalping opportunity was past. You just have to take these things on the chin. The positive from it was I got out before my 30 pip stop had been reached, so it could well have been worse. We end today with the virtual account back on £889.00.
Don’t forget folks, I’ll be back at square one from next week, Mon 4th April. This time though, the system is being put through its paces for real. Until next time, have a good day on the platform, and stay safe.
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