A pretty weird but profitable day

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Today was a pretty weird trading day. Still a profitable one! Here are my trades:

USD/CAD 1.2899 SHORT

I missed my 10 pip profit target just by 0.5 pip! I secured my position by moving the SL above the reaction. I took -3 pips loss there. Not a big loss but it was almost a profit.

This was not the last “patience tester” today 🙂

EUR/USD  1. 1386 LONG

One of the biggest “patience tester” trades in the last couple of months!

I was in this trade over 6 hours! 4 times the price came to +7 pip open profit. Still I haven’t secure the position. I was waiting for +7.5-8 pips in open profit to secure it by moving the SL below the reaction.

In the end of the day this was a full +10 pip profit.

note: I don’t see any strong correlation between time spent in a trade and its winning ratio – for this reason I don’t quit trades prematurely. Not even such trades as this one.

Here is a screenshot of this trade from my trading platform:

USD/JPY 114.00 LONG

I took a quick +10 pips profit there. However, some of my members didn’t take this trade because they saw it as “tested”. Indeed, the price turned 4 pips sooner and made a significant reaction.

Still I took this trade. I had those 2 reasons:

  1. The market didn’t test the volume (highlighted in yellow) – which was my trading idea. 4 pips was still quite a lot in this case. (If it was for example just 2 pips sooner I would have discarded the level)
  2. The market was in a strong uptrend. In uptrend like this you can be a bit more aggressive with long trades.

Here is a screenshot of this trade from my trading platform:

Summary:

Today was quite a tough day to trade. All the 3 trades were difficult in a different way. I had a total of +17 pip profit today which I consider a great result.

cheers,

-Dale

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Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

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Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

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