Huge GBPUSD movement today..

I put on my usual breakout trade.. the entry was either going to be a short at 1.5438 or a long at 1.5465, both with a 30 pip limit and a stop loss at the other end of the channel. I am only trading one lot currently due to the fact that I cannot control the order once I have put it in on my iPhone. Most of the movement in the market happens during my commute into the office so it’s pretty dangerous… until they can sort that on the iPhone trading, will I feel more comfortable trading it.

Anyway, my trade was a short and this went quite unexcitedly towards my target for 30 pips.. hoorah! If I had traded the 60 pip target trade, that would have worked today also.

In fact, if you look at the chart, where I bagged my profit for 30 pips, the market went an additional 180 pips south.. wow, that would be very nice. However, the system that I am using isn’t designed to be able to capture that sort of profit.

Now, I don’t want to change the system as it then becomes a system which may not have a positive expectancy but you cannot feel a bit silly for grabbing only 30 pips when over 210 were available… however, that’s the nature of trading, you need to stick to a system that you know. A movement like this doesn’t happen often remember!

Anyway, here’s the chart for the day with my short and exit..

Did you like this? Share it:

Tags: , , , , , , , , , , , ,

Category: Forex trading, Spreadbetting, Trading