Tue 7/10 – Short Cable for +1.36R (in 50 minutes)

again traded from home this morning.  took time to look over the charts of the currencies and the indices, but was very calm/slow to get into anything.  Considered that Cable set up for  a short trade a little while after the 9.30am UK news.  The XTF (execution time frame) was 1M but there was a nice 123 reversal pattern just above the 1.61 handle on the 5M timeframe supporting a short.

Spent some time thinking about how to best manage my trades once I get into them.  I would say that right now the trade management aspect is the big elephant in the living room.

Leaving home at 1pm – to meet up with fellow trader from the office to talk about his strategy and money management.  Looking forward.  Also put in place the 5-day trial for Tom Hougaard’s trading room – which will commence tomorrow.

cable2 gbpusd

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