I felt that I had to put this chart which shows that the GBPJPY did indeed reach the target I mentioned at 15645 and then promptly fell (note the stochastic move below 80)…  this should have been my trade if I had followed the rules… it would have been a lovely 95 pips in the bag… this chart will remind me of the missed opportunity and the reason why one needs to stick to the gameplan…

As I write, the GBPJPY price is at 15620.. it bounced perfectly off 15645…

Tags: currency trading, forex, gbpjpy, trading gameplan, trading mistake, trading mistakes

I entered this trade after seeing downtrend pattern in the 5 min charts looking to turn. The stochastics were also oversold and looking to head upwards.

In the 1 minute chart, the 20 minute moving average line (which was functioning as resistance) became support and I traded off a bounce and got in at 11244. The market soon shot up and bounced off 11300 and I closed out at 11286 for +42.

The market has since reached 11360 which is another 74 points which I missed out on!

I bagged my profits trading the Dow but as usual, I failed to capitalise… still, +42 isn’t bad!

Tags: daytrade, daytrading, dow, dowjones, emini, futures, investing, makemesomemoney, Spreadbetting, Trading, trading blog, trading mistakes, trading profits, trading psychology

Following on from the previous post, there was a breakdown of the downward pattern and I went long at 1357. The stochastics were looking good in both the 1 and 5 mins so I went for it.

However, I took profit at 1359 as the stochastics were looking to cross as you can see in the chart.. the market may well go higher as the stochastics have more to go in the 5 mins but I don’t want to risk it!

I got +2 points which isn’t a bad result!

Tags: daytrade, daytrading, emini, futures, investing, makemesomemoney, s&p, standard and poor, Trading, trading blog, trading mistakes, trading psychology