So I’m going to start journaling my trades on my blog, mainly to keep me honest in doing it. I have a journal note book that I use, but should my house catch fire and burn to the ground, at least I will have this as a record for me to look back on.
On to the trade. I personally like to wait for the good trade to come to me before taking it, and patience paid off for me today. I follow the old school rules of a confirming trade with my own little spin of wanting 30+ pips to next move/target. So when I saw the GJ, EJ an UJ all confirming, I didn't hesitate and got a perfect to the pip entry.
On to the sucky part of the trade. I closed 80% around 11, 12 pips I think, which is a HUGE no no, plus I’m still getting used to these 5 numbers. You can get excited when it “looks” like your up 130 pips lol. I did it cause I was watch UJ and it was floating around its lower targets, so I wanted to make sure I bagged some pips just in case it held and went north on me. I closed more around 20 pips then moved BE. It came back on me and took me out by the freakin fifth number this time, but whatever.
What did I learn:
- Only close a 80% at target for the pair you are trading, make sure its over 20+ pips when you TP.
- After 20 pips, move stop –10 and leave it.
