Although last week ended on a negative note we seem to have shaken that off and while it may not be record book profit, it is a profit none the less which put my confidence back in place. I believe that confidence is a key ingredient in trading so I feel a lot better today.
Toady we had 2 signals and we jumped into both of them. It started out at 5:45 am. The 4 hr. chart had made it's trend downward so we were only looking for short trades. We had our signals and so we put our trade in. Short @ 1.9864. 3 Lots. Put our stops at 1.9885 and our target at 1.9850. Unfortunately we were stopped out of the trade within 30 minutes and we lost 21 pips per lot.
At 10:15 we had another signal and I gotta tell you, with the last strings of losses it was hard to pull the trigger. but I did and got executed at 1.9873. again 3 lots. Stop at 1.9900 and target again 1.9850. It wasn't looking good at first but I decided to not to walk away from the charts and let the trade take it's course. I returned at 3pm to make sure I would close out if nothing had happened yet and saw the pleasant confirmation on the screen at our target. So we came out of that one with 23 pip gain.
All in all, I only netted 2 pips, times 3 lots, so net profit of 6 pips. But it is Monday and we are now ready for the rest of the week.
On a separate note, my crossover at 10:15 wasn't taken by pip surfer. Instead he got in at the 11:15 crossover. I was already in the trade and yet we both had the same result because he got in at the same price.
Here are the charts. Take a look.
Talk to you later.
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