There was actually something to do this morning. I had a new trade to enter and I had to move my stop on the trade I opened a couple of weeks ago. I have now locked in a guaranteed profit on that trade and no doubt will be leaving that one to run to see how far it goes.
Last weeks new trade was a loser but it didn’t cost me much at 50p a pip and indeed the loss is less than the profit the current trade is in. We got an e-mail from LS Trader last week explaining that something like 6 out of every 10 trades will actually lose, but that the losses will be minimal compared to the winnings on the winning trades. The idea is that winning trades are left running for as long as they keep going… some go on for months and all you do is move the stop each week to lock in more profit.
So I now have two trades running and it only required 10 minutes this week to do it. And 5 minutes of that was spent on the phone to IG Index asking them to unlock the particular market we entered this morning.