It’s only 11.30am and I can already update the blog for today.
I was really tired today, woke up at 4.30am (without the alarm) after heading to bed at 11pm and having downed 3 pints of Heineken. Consequently my psych assessment dropped to 6.5 (out of 10).
Anyways I believe I still traded and executed well. I waited patiently to short USDJPY and GBPJPY on retracements (same pairs as yesterday) – however this time they didn’t work out. Some Sterling strength came into the market around 7.30/7.45 and GBPJPY rallied 20 pips in an instant, causing me to have a 1R loss. USDJPY did show some profit but was eventually closed on a tightened stop for a 0.7R loss.
By 9.30 I had pretty much decided to pack up and go home. However I then entered a post-news trade shorting Cable just above the 1.70 handle. This was not good trading. I ended up with a partial loss on that one too. This was not professional trading and I should not have done it. It’s not the end of the world – I just won’t do that again.
Visualization is still going well, and I am happy with the way I am monitoring the market and evaluating the setups. The routine is definitely getting more established. Progress!
Day’s result: 3 trades, 3 losers: -2.2R