Trading update and my progress in the markets…

When I’m feeling tired, it’s quite difficult to trade. I’ve been doing quite well of late with trading and sports betting and I haven’t been inputting everything into the blog. I’ve noticed that people who own blogs like mine with a target in hand use them to monitor their progress.. I am using mine as a diary tool so I can look back at my trades and learn from past mistakes. I have certainly noticed my trading improving immensely this way to the point where I feel confident that I am indeed successful as a trader. I am seeing consistent regular profits into my account and it feels great! However, I’m also conscious that I am getting lazy updating the blog… it’s almost as though I feel that my journey to consistent income is almost there and I want to spend more of my time making the money than documenting it. I’ve noticed that those who have blogged their rise eventually stop once they become successful… I certainly hope that this isn’t the case for me as trading is always changing as markets change and you have to adapt to it.

Anyway, today, I went long the GBPJPY at around 15550. I decided that this was a good entry as the stochastics had dipped and were looking oversold. In addition, I saw momentum pushing prices higher. The first target was the resistance level formed from the previous high at 15591 or so. However, I sold early at 15583 for 33 points.  My entry was good, my exit wasn’t so… I didn’t really follow the plan (I feel very tired after a long days work). The price right now as I actually write this post is 15618 which means I’ve left a good 35 extra pips on the table! The next price target is actually 15645!! If it does reach there, that’s 90 odd pips!

Nevermind… you can’t win them all!


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Category: Forex trading, Spreadbetting, Trading