Friday, April 29, 2016

Successful: Long EURUSD


This one looks like a classic setup.There was a move on the uptrend and we have to wait patiently for it to come down to our area then set a buy limit for it to hit it and then exit when its 11pm.

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)





Sunday, April 24, 2016

Successful: Short Gold


This time gold did went lower and was a successful one. But to close the trade early as its already 11pm. Time to zzzz

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)





Failed: Short GBPUSD


Was shorting GBPUSD again and it didnt turn out well and took my stop loss. Maybe this one wasnt in a clear down trend which resulted in a failure.

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)





Saturday, April 23, 2016

Failed: Short GBPUSD


This one looks like a almost perfect setup to trade but it didnt turn out well as expected and hit my stop loss. GBPUSD was in a down trend then a strong down move followed by a sharp reversal was the perfect entry point but it continued moving upwards and hit the stop loss :( It was expected to continue its downwards trend :( oh well...

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)





Thursday, April 21, 2016

Failed: Short Gold


Yet another failed short attempt on gold. It suddenly reversed its trend and hit my stop loss.

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)





Successful: Short GBPUSD


Took a short trade on GBPUSD and got a bumpy ride but in the end, it went down and close trade in the early morning. This could well be a lost trade if I didnt hold on longer and it didnt hit my stop loss. Anyway just glad that everything turns out well.

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)





Wednesday, April 20, 2016

Successful: Short USDCHF


Took a short trade on USDCHF at the breakout towards downside. It was a pretty move and trade was closed at 11pm.
Seems like trading session is very important gotta trade at certain time to see some of the major move. Else you will be caught in the whipsaw.

Trading Plan:
1. Trade with the trend
2. Trade when there is a price action reversal with the trend continuation
3. Place SL on previous high/low candle (Limit my loss)
4. No TP. Let market decide when to exit (Let my profit run)