Charity Trading Account - Trades for 08/08/07

Please make suggestions for our Charity Trading Account (details here) for trades on 8/08/07.

Please abide by the following restrictions:

All trades must have an entry point
All trades must have an exit (target) point
All trades must be good for that day only (no rollovers to start with)
All trades must have a stop

No trades will be made in non-UK Equities or in Heating Oil or Natural Gas contracts.

The maximum stake will be £1 a point in indices, energy and metal commodities and Currency Markets. The maximum stake in all other contracts shall be £2.

Please suggest your stake along with your suggested instrument.

Please do not use this thread for anything other than trade suggestions. Irrelevant posts will be deleted without explanation.

Our thanks to Capital Spreads for setting up the account.

Good trading,

EK1

GBPUSD:
SELL if GBPUSD rallied to 2.0250. (5-EMA High: preferred higher, but factor in vagaries of SB pricing))
Stop-Loss=2.0290 (Resistance from past few days)
Profit-Target=2.0180. (recent dip, but not beyond it, to be safe)
Risk-Reward=40/70.

Order in as per trendie's trade.

SELL 1 GBPUSD @ 2.0250
Stop = 2.0290
Profit-Target = 2.0180.

EK1

that was a seriously badly judged trade.

I could see the support line 2.0180/165, but failed to consider the strength of the bounce.

I am going to withdraw from further daily calls.
(I was too engrossed in the "James" skype sessions on his (babypips) IB trades, which netted best part of 200+ pips real-time today)

EDIT: I didnt personally nett 200+ pips, by the way!

Wednesday's trades

Options
09:23 USD/JPY Sell 1 @ 119.23
15:02 stopped @ 119.53
Loss = £30

Trendie
11:01 GBP/USD Sell 1 @ 2.0250
11:35 stopped @ 2.0290
Loss = £40

No problem Trendie, thank you for contributing. 200 pips would be nice

EK1