My Trading Day ~ Thursday 19th May 2011
An early start to my day, I was woken by the sun coming through the window at 5:30, and I was up and in the kitchen at 6 o’clock with some coffee answering emails. I am being picked up at 9 o’clock to go sailing for the day, so I also started watching a few charts to see if I could have a quick trade before I shoot off for the day.
There was nothing happening on my usual charts (email me for my list of favourites) but then at 7:30 my EUR/USD chart showed a possible trade with my new ‘price-action‘ system and at 8:27 I was in a short trade. The price shot down very quickly as soon as I got in, and at 8:47 I came out with +27 pips. That will do nicely – I am now off for the day.
If you would like details of my NEW ‘price-action’ strategy, just email me at the usual address. I will update this blog later tonight when I am back home.
Update 8:15pm: The weather has been perfect today for sailing out on the North Sea, very sunny but good winds as well – and enjoyable time was had by all of us, and as there were 3 traders on-board we had a lot of ‘shop-talk’ as well, which I quite enjoyed. The main topic of conversation was the successful float of the business social website “LinkdedIn” and how it made its founder Reid Hoffman an instant billionaire. Read more about Mr Hoffman’s business style here, and also more information about the float here - you can see that the original float price of $45 was quite conservative, as the shares hit $121 at one stage today before settling back around $100.
Anyway – I got back here to the cottage at 4:30pm and after a quick shower to get rid of the ‘saltiness’ I settled down on the patio outside the kitchen and watched my “Trade With A Day Job” chart on one of the laptops. My 1st trade came up just after 6:15pm and a few minutes later I was in a ‘short’ trade. Unfortunately I was stopped out a short while later as the price hit the stop-loss level (at minus 18 pips) but almost immediately I had another short trade signal come up (which quite often happens) but this time I managed +38 pips profit, so I covered the previous loss plus my usual trade target of + 20 pips. As soon as I came out of that 2nd trade, I spotted another opportunity, and I was not due out until 9 o’clock, I took this ‘long’ trade, and that pretty quickly shot up to its target so I came out a few minutes after 8 o’clock with another +20 pip trade.
As it is Friday tomorrow, there is no work (trading) just a 3 day weekend in front me – but I will have my phones on me if you want to email with any questions/queries.
Daily Target Reached ? YES (+67 pips) I traded for 2 hours this morning plus the evening session with my “Trade With A Day Job”