Friday, January 11, 2008

Trade Journal

I got out of my EURUSD longs today for a total of 30 pips. Market will definitely start ranging after such a large movement.

Identified the Daily Trend YES
Traded with the Daily Trend YES
Followed the plan YES
Profit YES

Today's story of the day! I went short cable at the top of the range and netted me a good 102 pips.

Identified the Daily Trend YES
Traded with the Daily Trend YES
Followed the plan YES
Profit YES

A flag was formed on the H1 chart and I played the breakout, and pyramided it down. It showed me a great initial profit but I got stopped out in the end for a very small profit. Turned out my trade management was great, just that I pyramided too fast.

Identified the Daily Trend YES
Traded with the Daily Trend YES
Followed the plan YES
Profit YES (a little)

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