I don't tend to trade Bank Holidays as volumes are low and traders are generally off taking long weekends. These are times when the markets can do funny things. I didn't trade today but in hindsight, our system would have worked and bagged our 30 pips. For reference, here is the chart, the upper line is at 14493 and the lower at 14444. The market hits a high of 14550 which is almost 100 pips.
Archive for May, 2010
Friday was coming up to the Bank Holiday weekend. A lot of traders will pack up early and go on a nice long weekend break. Usually volumes are low but I thought I'd put on the usual trades today.... It was not a good day however, you can see that the long trade was initiated at 14568 and it peaked at that point at 14592 (24 pips) before falling and hitting my stop. The short trade was at 14521 and went to 14491 (exactly 30 pips but including my spread, my stop wasn't hit) and went up. I ha
Today wasn't too exciting........ I was rather miffed about yesterdays double loss so hoping today would bring back some results. The lines were at 14488 and 14402. The upper bar was breached and the long trade was initiated... an easy 30 pips were bagged. However, the market initially went to 14541 before a smallish retrace and shot even higher to around 14587 (100 pips) before falling all the way down.. it wasn't too far from the lower of my lines and if a short was initiated, it would have