Hello everyone,
I forgot to let you all know that I recently changed my RSS feed. The new feed address is: http://feeds.feedburner.com/hectortrader , and you may now also subscribe by email - simply click on the subscribe tag here on the blog.
Cheers,
-HECTOR-
Hello everyone,
Today, as I told this morning to the guys on my mailing list, I didn’t take any trade. As you know, on Fridays I mostly trade London Open Breakouts and perhaps a scalp trade off the shorter time frames. Unfortunately, in one hand we had the GDP announcement coming from UK this morning so all the L.O.B. had to be discarded, and in the other hand I didn’t particularly like any scalp setup so, all in all, I have remained on the sidelines for the day.
This week my trading results have been: GBPNZD -15 pips, USDCAD +40 pips, USDCAD -29 pips and USDCAD -11 pips. Total net result -15 pips for the week. Needless to say that it’s been a disappointing week where almost non of my setups turned out as expected. At least the monetary loss (-15 pips) has been indeed small, so not a big deal.
Enjoy the weekend!
-HECTOR-
Hello everyone,
Sorry for not having updated you guys with yesterday’s stuff, but the trade I had open on USDCAD was still open so I preferred to wait until that trade was closed out to upload the video.
Yesterday thursday we had a few London Open Breakout type of setups lining up for a long entry on different GBP crosses, but we had the Retail Sales from UK standing right in the middle of the way so I couldn’t take any of them. The trade I did take was a swing trade on USDCAD 4H which entry was boosted by the CAD news outcome and my sell stop order got triggered as a result. Unfortunately, this swing lost all its momentum half-way through and I went to bed sitting at an uncomfortable -10 pips. This morning I woke up to find my position STILL sitting at -10 pips after two consecuting spinning tops on the 4H time frame: basically, all momentum was gone and from that point on anything was posible. I decided to minimize my risks and close this ill-fated trade. In my opinion, if there’s no momentum pushing price along the chances of that particular trade turning sour increase exponentially and I just didn’t want to risk it, so I closed it manually at -11 pips.
USDCAD is definitely not liking me this week!
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Hello everyone,
Today was one of those days I wished I’d stayed in bed.
First of all, I woke up to find my GBPNZD trade (opened on 12th July, scroll down on this blog to see the entry) having been stopped out at -15 pips. I was pretty upset about it because it went over +250 pips in my favor, but yesterday it retraced back up big time knocking me out at almost breakeven (I had trailed my stop down). It sucks to see SO many pips slip away between your fingers in barely 24 hours.
Moreover, USDCAD also decided to play meanie with me today. Right as London opened I triggered a short entry upon a triangle breakout in the direction of the main trend off the Hourly chart. Well, there was a cluster of unlucky events one after the other against me: firstly, price found some heavy support at the 1.0400 round number and bounced violently up, triggering my stoploss at -29 within two hours. Moreover, a couple of hours later, the inflation data from Canada came out spiking the chart to the upside and slapping my trail stop on the long term position I had open since the 12th of July (entry recorded live, scroll down to that day’s entry) at +40 pips. Putting those two trades on USDCAD together, I barely netted +11 pips out of two setups that were both looking pretty handsome at the beginning.
So, all in all, a -4 pips net result on these two currency pairs and, what’s even more upsetting, two beautiful long term trades (GBPNZD and USDCAD entered last week) that got mightily spoilt…
As the entry title says, not a good day…
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