Members

Update: 24 Jan 2017 – Trading update

Second cable trade stopped. Really bad luck on this one. Stopped us out at 1.2505 to the very pip, the high since our entry position and proceeded to then capitulate 60 pips and head towards our target.

Unfortunately, the loss from this trade cancels out 95% of the profit from the earlier sterling trade. You win some, you lose some and you can never take it personally, but at times like this its easy to mistakenly believe the the market is solely against you.

Only open trade is AUDCAD short which sits @ 1.0042 with an SL of 1.0065 and a TP of 0.99. Had a bit of an unlucky start but by no means tragic. Lets stay determined!

2 Comments

    1. I agree not a good start at all. In my opinion, it is a very bad start but the result of quite a lot of poor luck as well. That last sterling trade stopped us at the very pip of 1.2505 (the high after entering the trade) before capitulating. Had this not happened, the story would have been a very different one today.

      With regards to Sl’s, I do not think 45 pips is a short SL and it is a strict rule of this trading method and has been made clear many times. As tempting as it is to break that rule, I promised myself that I would stick to it regardless. I am also not worried about losing 7.4% from 3 large trades that have gone wrong, considering that each individual profitable trade has the potential for much more gain than this, I would be delighted if I only lost this much for every 3 trades that went badly. Let us do our best going forward and try to ensure that a first few bad days does not set the tone for the first month.

Leave a Reply