From first live trade to.....?

Scotty2Cues

Established member
737 33
Not sure if I was lucky or unlucky today. Lucky as I thought the 2 trades opened at the same time were gonna lose but instead gave a 1% total account increase.

Sold gbp/usd 1.6215, 25 pip sl and got stopped out very quickly although a 30 pip SL would have given me a nice profit.

Also sold eur/usd at 1.3924 with 25 pip sl and was nearly stopped out but managed to luck a profit. Also TP was hit to the pip at 1.3894 before returning to my entry point.



Total account up 5% this month with 20% segregated bit up 25%.
 

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Scotty2Cues

Established member
737 33
For the gbp/usd trade, I was hoping for cluster of sell orders and buyers taking profits around 1.6215 due to previous support and resistance there. An extra 5 pip SL would have included support turned resistance (pink rectangle on chart) and given anice profit.

Recent UK economic data hadnt been to good either.
 

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Scotty2Cues

Established member
737 33
Are you live or demo ?

Do you use Candlestick Charts ?

Live and I dont use candlestics. Bar charts give the same info as candlestics and I only really looked at pinbars while demoing.

Suppose I just play battleships or kriegspiel (chess where you cant see opponents pieces); ie use obvious support/resistance to try to determine where clusters of orders are and join the ride. Also keep an eye on data releases, news etc to keep me out of trouble.
 

JDTRADER

Experienced member
1,462 24
Cool good luck

Is this your first live account ?

I blew up my first account on CMC 2 years ago :cry: its a long road mate :smart:
 

Scotty2Cues

Established member
737 33
Been looking at gbp/jpy for a while to buy/sell around 133 as previous S&R. Wanted to sell gbp/jpy at 133 after it broke around 0730 (I assume due to earthquake). Maybe wanted to see more time before retest of 133 before I sold or maybe I had only just logged on and didnt feel confident in putting on the trade. In other words I bottled it!
 

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Last edited:

Scotty2Cues

Established member
737 33
Been looking at gbp/jpy for a while to buy/sell around 133 as previous S&R. Wanted to sell gbp/jpy at 133 after it broke around 0730 (I assume due to earthquake). Maybe wanted to see more time before retest of 133 before I sold or maybe I had only just logged on and didnt feel confident in putting on the trade. In other words I bottled it!

I should have looked at the price action before it broke 133 (quick drop) as that would have given me a bit more confidence I think...
 

Scotty2Cues

Established member
737 33
Hope to start posting trades next week...

Account up by 10%, peaked at 12%
 

Scotty2Cues

Established member
737 33
bought eur/gbp this morning @ .8836, 40pip SL, SL now at BE 3% risk of total account

recently bought eur/jpy 119.53 40 pip SL 1% risk of total account

only risked 1% on eur/jpy as already bought eur/gbp and want to get in on aud/jpy

basic support and resistance, fundamentals: interest rate differentials, looking to be selling the yen and dollar and buy eur and aud (versus the yen and dollar) at support and resistance on 1hr and higher timeframes.

will risk more as account grows

Greece just admitted its troubles worse than thought so SL on eur/jpy to BE
will risk more as account grows
 

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Scotty2Cues

Established member
737 33
next resistance for eur/gbp is 0.8880 so looking for it to break that so i can get risk:reward better than 1:1

will buy aud/jpy if it retraces to 87.70-87.50 or 88 if it breaks it convincingly
 

Scotty2Cues

Established member
737 33
eur/jpy stopped out at BE, hopefully eur/gbp will have support at .8845 and still looking to break .8880.

have to go out but have placed order to buy aud/jpy @ .8770, 40 pip sl, 2% risk
 
 
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