Meetings Then Some Trades

I had meetings this morning then I took some trades. I felt really good about the trades until one of them kept going in my direction after I bailed. I even considered re-entering the trade close to my previous entry after closing and locking in 11 pips. Over-all, I made 14 pips so I am not going to complain.

I’m not sure if I have indicated that I only trade GBP/USD or the Cable Pair. It moves enough to scalp, yet not too fast like more volatile pairs like GBP/JPY. The majority of my trades are fades, taking the trade in the opposite direction after so many candle and hitting a support/resistance lines. The trades can be in the direction of the momentum/trend of the week or against the momentum/trend. I base my trades on the 10 minute candle chart.

Below is the daily chart and the 10 min candle chart with my trades for the day. On the second trade, I put lines where entered and exited going long. As you can see I missed about 25 pips, because I am still a work in progress after 8 years of trading!

10 minute 04-30-2015 blog
daily 04-30-2015 blog