Mon 7th July – trading update

All right. I am going to try to get into the habit of posting more regularly again here.

Back in the office shortly before 6am this morning. I spent 2-3 hours on Sat and a good 5 hours yesterday working on various aspects of the FX operation, as well as reviewing the major pairs on higher timeframes to identify important price levels and/or technical patterns such as triangles, channels and flags.

This morning I took two short EUR trades – one on EURJPY and another on EURUSD. Both were stopped out with a tightened stop for a total loss of 0.5R. EURJPY eventually resumed its downward path, and it never did cross the initial stop I had set. EURUSD hit the tightened stop and then continued rallying toward the 1.36 handle.

Later I shorted USDJPY – I had eyed it up earlier on but then got in at a worse level after it moved down to the 102 handle. I managed this one rather aggressively as it approached previous lows at 101.94. This one was a profitable trade for +0.75R.

Aside from monitoring the 15M charts for setups I also did a bit more work on the trading log/statistics sheet, thought about my risk management, and completed some non-trading administration tasks.

Around lunchtime, I re-entered EURJPY @ 138.59.  Additionally, following the CAD news, I went short EURCAD.

Thus I ended up with 5 trades today – in the end making around 0.6R.


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