Another slow-burning day today. Whilst there was plenty of movement in the charts the TTT entry criteria were not being met; either the second signal lagged the initial signal by too much, or the second signal preceded the initial signal, or the trend reversed before the order was opened.
One important thing to note here, the different spread-betting companies and Forex brokers all have slightly different data feeds. This means that my charts did not show a valid TTT trade, but someone reading this might be saying “whats Arthur talking about, I was done and dusted by 08:30”. That is because some of the TTT signals that I discounted were very close to being valid, and could eaily have been valid using different charts and data.
As 10:00 approached without a single TTT trade, I was wondering whether to pack it in for today as the momentum had probably vanished. Whilst considering this there was a valid TTT pair of signals at 10:09 for the first signal and 10:12 for the second signal on the FTSE. The order was placed and almost immediately filled. The trade made the target 12 minutes later at 10:24.
I was wrong about the lack of momentum at 10:00 anyway. The FTSE has been following at 30-point sinusoidal range all morning, so it was just a question of finding a valid TTT signal pair to trade. Another item to add to my ever expanding book of lessons to be learned!
Bank now £181.70.