I've decided to post less pics and more description of what I did. Still will post blotter, but not sure if there is much value in posting a chart (since it only shows the last 30 min on the timeframe I trade - 1 min bars).
Had problems with Oanda for first 45 minutes. No trading.
Spotted one valid breakout trade during this time that would have been -6 pips
Second trade was a #6 on the USDJPY for +5.6. Trade taken correctly within the rules.
Third trade sequence on the EURUSD was a valid reversal signal. Oanda froze up on me so I added to get out at scratch. Got lucky and the market tanked and let me out with a nice profit.
Fourth trade - gah. Not even a valid setup by the rules, compounded error by adding. Should have just gotten out. Yeah it didn't cost me much. But I am pissed at trades like this. Need to stop averaging...
Of course as part of this fourth trade sequence a valid signal was missed - was a winner - of course.
Fifth trade, scratch as I didn't like how much we had retraced.
Sixth trade, taken correctly, winner.
Conclusion - 1 breakout - would have been a loss but missed
3 #6 reversals - 3 winners - took 1
3 reversals - 2 taken. 2 winner 1 loser (missed
Net pips should have been +15, was actually +29.
However, I'm not pleased. Averaging is what produced those numbers. And while that may work fine on a day like today you can quickly get burned when the market gets into a steady trend.
Thursday, June 4, 2009
Posted by Lord Tedders at 6:43 AM