Historically for me, Monday rush-hour isn't the best time to trade... and today has proven to be no different. Didn't trade EUR/USD today... and yet, still got caught by whippy action on Cable. Sigh!
Cable (GBP/USD)
Bias is up and immediate trend is up.
Short 5 lots at 1.6442
Result: SL hit at B/E (gain of 0 pips)
Short 5 lots at 1.6442
Result: SL hit at B/E (gain of 0 pips)
Long 10 lots at 1.6462
Result: TP on 5 lots at 1.6502 (gain of 40 pips) and tariling stops hit... 2 lots at 1.6492 (gain of 30 pips), 1 lot at 1.6482 (gain of 20 pips), 1 lot 1.6472 (gain of 10 pips) and 1 lot at B/E (gain of 0 pips)
Short 5 lots at 1.6442
Result: SL hit at 1.6462 (loss of 20 pips)
Long 10 lots at 1.6462
Result: SL hit at 1.6432 (loss of 30 pips)
Short 5 lots at 1.6432
Result: SL hit at 1.6462 (loss of 30 pips)
Long 10 lots at 1.6462
Result: SL hit at 1.6442 (loss of 20 pips)
Short 5 lots at 1.6442
Result: TP at 1.6365 (gain of 77 pips)
Cable Tally = -USD750.00 (loss)
Geppy (GBP/JPY)
Daily bias and immediate trend is up.
Short 5 lots at 158.48
Result: TP 2 lots at 157.62. Trailing stops hit 1 lot each at 157.72, 157.82 and 157.92.
Long 10 lots at 157.63
Result: TP on 4 lots at 158.20. Trailing stops hit 2 lots each at 158.10, 158.00 and 157.90.
Short 5 lots at 157.43
Result: TP 2 lots at 156.89. Trailing stops hit 1 lot each at 156.99, 157.09 and 157.19.
Short 5 lots at 157.43
Result: TP 2 lots at 156.96. Trailing stops hit 1 lot each at 157.06, 157.16 and 157.26.
Long 10 lots at 156.33
Result: TP 4 lots at 156.88. Trailing stop hit 2 lots each at 156.78, 156.68 and 156.58
Geppy Tally = USD16,350.00
Total Tally = USD15,600.00 (13 trades with 7 wins, 4 losses and 2 break-evens; 54% win rate)