Trading the GBPUSD market – so close yet so far!

Today I was a bit unlucky with the markets. I usually take the high and low of the market movement between 4am and 7am but I had set the high at the previous high at around 6am which I thought would be the high of the day.

Anyway, if you look at the chart you will see that my trade triggered at 7am for the long which then fell to hit the stop for -40. The short trade also went and it should have hit the target for 30 pips but including the spread and all that, I think I missed the exit by less than 1 pip. As a result the market moved higher and stopped me out.

I had a 40 pip stop for both for it was a -80 pip loss today.

Today could have easily been a winning day though with a bit of luck…  had the long not triggered at 7am, it would have triggered around 11am for a profit.

The short also was so close to a profit..

It could have easily been a winning day today with both trades hitting target for +60 in total.. oh well!

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Category: Forex trading, Spreadbetting, Trading