Thursday 9th July
A losing trade on USDJPY this morning costing 11 pips:
And a loser on EURUSD costing 25 pips. Fortunately for me I placed my order to open on EURGBP by mistake and did wonder why my order didn’t get filled. Stroke of luck!
I did get on this one though costing 56 pips:
And another loser costing 46 pips:
I took another trade later on at 5.20 which is normally way out of my trading time and let it run. Interestingly at 8pm it banked the profit and opened a new trade automatically on the same market but gave itself another chunk of spread. I guess I’m supposed to stop trading at 8pm otherwise I’m not day trading anymore. Bit irritating how it took more spread but I’ll know next time… not that I intend to make a habit of trading at this hour!
The trouble with this style of trading, as in using a trailing stop, is that if you take a trade late in the day you’re stuck with it moving the stop until it’s finished, unless you just close it manually when you want to stop. But that’s when the greed monster sets in and it’s very difficult to close it because you’re thinking this might be another 300 pip trade. I noticed that the markets move very slowly as you head into the evening and whilst it’s fine just checking it every now and then to move the stop, it’s not exactly ideal.
Anyway the trade drifted sideways most of the evening so I’ve decided to let it run overnight and will update tomorrow:
