Week on the road and Trading – How it turned out
As I mentioned in my previous post, I had been away on business for a week but able to trade. However, what I wasn’t able to do was to login into my blog and update the post entries as I had left the passwords at home. I also didn’t have access to the graphics package on my laptop which I used to annotate the graphics.
I also didn’t trade on all the days due to various situations but ended up 90 points up for the week which was great. What I have done is to write the upper and lower band mark on the various days so that you can see and a short commentary on each.
10th May 2010
Upper 14907, Lower 14854
I didn’t trade on this day as I was at the airport on my way out of the country. Unfortunately today would have been a losing day as the market moved below the lower line by about 20 pips before it shot up. There were 150 pips towards the upside too! I’ve also been reading about breakouts and a trading idea that I’ve been toying with is to trade both breakouts in a day if either of them breach. I’ve noticed that fakeouts one way break out more strongly going the other way.. it’s still possible to lose but more chance of success. If I had done this today and actually traded, I would have lost on the first trade but made some back when it broke towards the upside.
11th May 2010
Upper 14847, Lower 14769
Another day when I was unable to trade. This was because there was no Internet at the resident staff house they put me up in. This was a shame as the price action pushed to 14889 before falling away. If I had traded a short as well when it went below 14769, that would have been another 30 points bagged on the way down. The market hit 14720 as the low before moving up again.
12th May 2010
Upper 14919, Lower 14862
I managed to get Internet on this date.. I was supplied a 3G dongle! (My 3G dongle wasn’t activated for international roaming which was a pain). The long was initiated and it was an easy 30 points of real profit! The market shot upto 15045 which was a nice 125 pip movement. A short also below the line would have been profitable, the price action hit a low of 14819 which was a 43 pip movement.
13th May 2010
Upper 14885, Lower 14841
Another day where I was able to trade. I felt really lucky with this trade as the break towards the upside clipped the 30 pip target and then the market just collapsed! The peak was 14918 which was 33 pips… The market soon collapse more than 150 pips. The short would have been successful too…
14th May 2010
Upper 14640, Lower 14554
Back in the UK and I was able to trade. A short below the line yield profits.. the low was 14496. A nice 30 pips again!
So 90 pips in total for the week which was good.