Another profitable daytrading day on GBPUSD, EURUSD and FTSE markets

It was another good day on the markets.. it’s funny how you get periods when your systems don’t seem to work at all and then when they work, everything works nicely. A big part of that is because the markets are always changing… the go from trending to non-trading, from trending up to trending down. Most systems work for a particular type of market… it’s difficult to find a system which works across all of the markets volatile personalities.

Anyway, I had two trades on the GBPUSD today… the initial entry for the short was 6.30am for a 40 pip stop and 40 pip target which hit the target. The second trade at gone 8am was a short again with a 20 pip stop and a trailing stop. You can see that the market did move downwards for around 20 pips before retracing upwards. Unfortunately, my trailing stop went down when the markets went down and I ended up with a -10 pip loss. Total for GBPUSD is therefore +30

The EURUSD, a short just after 8am and it too started to look good.. however, the market soon spiked upwards. My trailing stop took me out and I ended up with a net zero profit and loss. I had a second entry, a long and it didn’t look good after 5 minutes as it fell but I capitalised when it bounced up and took 18 pips. I think the market may head up higher from here but I was happy with my 18 pips for now.. total for EURUSD 18 pips.

Finally the FTSE100, as it approached the pivot line and hit some resistance. The candlestick pattern showed that the resistance was pretty hard. I entered short seeing this and rode it down for 25 points. Total for FTSE is 25 points.

Total for the day is 63 pips/points.


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Category: Forex trading, Spreadbetting, Trading