Tuesday 17 May 2011

17th May '11

Well, Just like Klaus, in his blog here : http://devisen.wordpress.com, today I was stopped out ... but for me it was the EUR/GBP pair... as I started looking at the charts this evening the trade was only 8 pips shy of the Stop Loss ... as expected ... it wasn't long before the Stop was hit, for a cost of 93 pips.

Since I have taken the loss tonight, my 1% risk has been calculated using the modified fund value.

The other trades running at the moment are a Long trade on AUD/CAD and a Short trade on GBP/CHF. As far as trade maintenance is concerned, I couldn't move the Stop on the AUD/CAD since it came within a whisker of being exited today, however with the move later this afternoon, the reasonable Take Profit Point has moved, and so I have adjusted the Trade accordingly. Similarly on the GBP/CHF, it is too early to move the Stop, but I have moved the Take Profit value.

While the GBP/AUD trade did not trigger today, I have left the trade to run overnight, as the price action is moving in the right direction, so the same figures will stand for today.

In addition to the above, I have placed 3 new Short Orders in the market: GBP/USD (the price has retraced further,and so a new Order has replaced yesterday's), EUR/USD and EUR/CHF.

So my Trade table looks as follows:


Current position from tonight
Curr. PairDirectionEntryStopTargetP&LComment
GBPCHFShort1.43631.45541.4113+60 pipsDay 5, TP Extended
AUDCADLong1.03051.02231.0405+19 pipsDay 4, TP Extended
GBPAUDShort0.86810.87740.8588-Leaving to run
EURGBPShort1.52681.53781.5105-93 PipsStopped Out
GBPUSDShort1.61681.63061.6030--
EURUSDShort1.41141.42421.3986--
EURCHFShort1.24981.25981.2398--

Sorry, no pictures today ... I have to get some sleep :O)

... but I'll wish you ... Happy Trading ... and I'll be back tomorrow.

Nick :O)
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