Week of 17th May 2010 – GBPUSD forex trading

Well, as I mentioned, I spent the whole week from 17th May on a business trip. I had looked at the charts every day and wondered how the system would have worked if I had traded it. Here are the charts!

17th May

I just flew into Africa in the morning. However, a long would have been triggered and 30 pips would have been in the bag

18th May

It wasn’t easy to put on the trade today.. I was in a conference and had to fire up my email and put in the order. I had put in an order to buy at the high band and a sell at the other. When the first trade (buy) was triggered, I cancelled the short. The long made me 30 pips. Looking back on it, the short would have also made 30 points.

19th May

Another day that I wasn’t able to trade.. it looks like tomorrow I’m not going to be able to either. However, from going back through the charts, the long trade was initiate which would have been fruitful. A short at 14275 if I had left this order would have reached 14239 at the low.. another successful trade.

20th May

Could trade again this day but it would have been a short and it would have been profitable!

21st May

I am not sure if I would have traded today as the distance between the two lines was almost 100 pips. If I did, the first trade would have been a long which would have lost. I don’t think I would have set a 100 pip stop (way too big).. I may have set it at 50 pips but this would have been a loss. A short towards the downside would have yielded 30 pips.

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Category: Forex trading, Spreadbetting, Trading