26/5 Bayreuth Day #3: 0/5 worked out today – though net result restricted to -1.7R

The US, the UK and Europe were on holiday yesterday, so I didn’t trade, and instead tried to review some of my psychology notes.

This morning I got right into it with four trades on four instruments.  None of them turned out to be winners, but the overall result is less than -1R.  Note I have increased the value of R from £140 to £155.  It seems that the market was limited in how much it was going to move during this morning’s session.  Two of my trades moved well into my favor – to the extent of 20-25 pips, just shy of their targets, but then both ran out of steam and retraced to the entry level, which tended to coincide with the EMA20, which was used as a trailing stop.  So did I do well in terms of managing the trades, or not? You decide (and comment below!)

371 eurusd May26

373 cable May26

374 dax May26

Still to follow: Charts for the completed EURJPY trade (-0.57R) and the long USDJPY trade that I didn’t take because I thought the pair would not move much further given that it had already done 110 pips (with a daily ATR[14] of 56).  Here we go (also another chart on EURUSD):

usdjpy May26 (no trade) 

372 eurjpy May26 

375 eurusd May26

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