More pips at the London Open

Hi there,



Just a quick and short update toady as I only had the one trade today with cable at the London open. Managed to bag 35pips. Thats 3/3 with the London open strategy this week!. Below is the chart:





















I wont be trading tomorrow so I will be back on Friday.

Later

Profitable day with Cable

Hi There,

Hope everyone has had a good day. With Cable at the 1.65 level yesterday I was hoping for a break to the downside today at the London open and that's exactly what happened giving me a nice 45pips. Below is the chart:











The eur/usd was pretty flat all day so I spent the rest of the morning stalking Cable and bagged a nice 26pips with a long. As this was against today's trend I exited at 26pips. Many of my losing trades over the past couple of weeks have been this types counter trend trades which have turned against me after being originally in profit so today I took the pips and ran!

So just trades today in the London session giving me +71pips.

Off topic slightly I'm currently reading Rigged by Ben Mezrich which I'm very much enjoying and I'll post a review when I'm finished it!


Later

Strong start to the week....

Hi There,

Hope everyone had a great weekend. Today was a good start to the week as I bagged 5o pips with the London open on cable. If anyone isnt familar with this strategy its fairly basic. On the hourly charts you mark the high and low of the Asian session and wait for the London open at 7am to break either this high or low. Its usually good for a quick 25pips but today I managed double that.











Elsewhere I managed a quick 14pips on a euro/yen trade and a nice 38 pips on a cable short that had clear Macd divergence. Below is the chart











So todays 3 winning trades gave me a total of +102pips. Hope this continues for the rest of the week!.

Later

End of Week Review

Hi There,

As i said yesterday no trading today so I will take this opportunity to do my weekly review. This week I managed 13 trades resulting in 8 successful trades giving me a total of 223pips. Looking back its easy to see that Tuesdays 3 winning trades on the 4hr charts provided the bulk of this and my losing trades seemed to be counter trend trades that at i didnt close quick enough when in profit!

Next week Im going to spend quality time on the 4hr and daily charts looking to catch some big moves. Im going to stick trading the London open with Cable and during the day am going to be more selective in the 15min setups that I take.

Over the weekend Im going to reread Trading in the Zone, exciting eh! I hope everyone had a good trading week and have a great weekend!

Later

Poor trading day

Hi There,

Not much good news to report today im afraid. Today started off early with the London open and trading the breakout/down from the Asian session. I was triggered into a cable short on the hourly charts but it didnt look right and I lost 25pips.

Elsewhere I timed two enteries wrong with euro/yen and euro/dollar resulting in 2 losses -44pips. That was it for the 3 losing trades totalling -69pips. Sorry for the lack of charts Im at my own computer.

Im wont be trading tomorrow but will do my end of week trading report tomorrow. Hope everyone had a better trading day than myself and best of luck in the markerts tomorrow!

Later

A Flat morning

Hi There,

Well today was a fairly poor effort with just 2 trades. It started off well at the London open with Cable as i bagged 32pips trading the breakout from the Asian session











For some reason I missed loads of chances to get on the strong Euro up trend against the dollar and the yen. Below is the eur/yen on 15min charts. Cant believe i didnt take any of these. Im beginning to think my trading plan needs tweaking and I also need to use my chart time more productively.










My losing trade today was a short on eur/usd but with a tight stop in place it cost me just -15pips











So today gave me a total of 17 pips! I will look at some longer timeframe setups this evening. Hpe everyone had a better day than me!

Later

Success on the 4hr charts

Hi There,

Let me start with the trades I opened yesterday based on the 4hr charts. These 3 trades were closed today giving me a total of 237 pips! Below is the enteries

EUR/POUND












USD/JPY












AUD/USD












This along with bagging 20pips on Cable with the London open set me up nicely for the day with 257pips. After lunch i was looking at an opportunity to short Eur/yen on the hourly charts. While waiting for some stupid reason i saw what i thought was a long on the Eur/yen 15min charts. It was a countertrend and at one point I was 37pips open but stupidly left it and ended up getting stopped out for -63pips. It was a dreadful trade with too wide a stop. Lesson learned but it left a sour taste in the mouth after such a good day!

Todays result + 194pips
Hope everyone had a good trading day.

Later