An 11 pip loss yesterday but an interesting situation which may need addressing. As you can see from the chart, the 5 minute entry point was 30 pips below the 10 minute entry. This is massive and I was in two minds whether to enter this trade. By the time the market had hit the 10 minute entry to qualify as a trade, it had already moved 30 pips since the 5 minute entry and although it would have been a winning trade on the 5 minute it resulted in a loss on the 10 minute chart. So I’m wondering now whether it would be a good idea to have some kind of pip limit between the 5 minute and 10 minute entry points. This doesn’t happen often, in fact I think this is the first time I’ve noticed such a big difference, but it seems sensible to introduce maybe a 15 pip limit between the 5 and the 10. Any suggestions welcome.
On to today, a straightforward losing trade first thing this morning costing me 21 pips but a winning trade later getting me back 15 pips, so no real damage done today.