Discipline Strategy – Jun20

Cable – Bearish 1H trend, 5M trend is bouncing for last 1/2 hr. The 7am candle looks a little bullish. Entered market order at 7am because the market was trading at its high.  Again trading on the FXCM platform – I have to remember to watch the stop loss setting – if entering 10 pip stop loss, then the platform makes it 10 pips plus the spread.

EU – Bearish 1H trend. 7am candle looks indecisive.  5M trend is down.  Entering buy stop order and got filled with 0.2 pips slippage.

Yesterday’s result ended up with a winner on Cable and a loser on EU.

All of the equity markets declined following the FOMC meeting and commentary last night.  Gold is still bottoming out – is it setting up for a fall through the support around $1,300?

Both pairs have been declining since the FOMC meeting last night.

In any case, discipline is still good – and I am finding that this exercise is helping me maintaining discipline in the STAM strategy.

7.30am GMT – done with discipline. Onto STAM now. Update: Both trades ended up as losers around 7.35am.

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