Hello traders!
Yes, only six pips off the mark… that how close today’s trade got from my final target!
Around noon London time I entered a short entry on GBPNZD upon breaking the low of the Tokyo session in the direction of the intra-week trade. Immediately after, price cruised south beautifully, and within the hour my final target was at my finger prints… but I was not to get lucky today apparently. Indeed, the GBPNZD pulled a U-turn up and as price loomed again over my entry level I decided to manually exit for a scratch trade barely enough to cover the spread cost.
Quite unfortunate really, as it would have been a 90-pip trade had price run just a little bit further.
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19 May, 11:03 pm
Goodevening Hector,
Your discipline impresses me so much ;) I will never get tired of writing these words. Knowing me I would have closed the trade manually and in the process gone long, potentially shooting myself in the leg.
I would like to ask hector, some trades using Hedging where they buy/sell the same currency pair. Does this make any sense at all to you because if I reason correctly, you can never make money hedging a currency pair if it’s in a trend. Perhaps this technique is coupled with a currency cross that is in oscillation?
Also, I am thinking of taking the AUDUSD for a long trip. The daily time frame shows a nice uptrend, with a flat topped triangle. It has found resistance at 0.9500 about 5,6 times and has finally broke through at 0.9482. Now it’s pulling back gradually and if it goes past the 0.9555 mark, I think it should spell a good opportunity. What do you think captain?
Kr,
Daniel
20 May, 2:46 am
Hi Hector,
My trade also broke even today!
Trading really does test patience
Fabio