Friday, December 10, 2010

FRIDAY Overkill!!!




Starting London session with a dull movement. EUR didn't seem giving any signal. So I trade AUD. More than 1 hour it moved in 10 ticks range!! And it's London Session already... GBP, trade it according to signal. It just moved 10 ticks, then stopped me out before flew to 50 pips. I just looked at it, not re-entry. AUD also stopped me out on par, before it slam and rise very quickly for 40++ ticks up. Watched this, no longer want to trade. So I trade the pre-US session. At first I want to trade Mini-Lot as usual. But there're incoming news and the spread might as high as 40 ticks at mni lot. So I switched to 6E. Then looked at Head Shoulder Pattern, but never trade based on that. Just for pre-caution.

First entry at better price, stopped out... AT THE EXACT TICK as usual!!
Well, I won't gave up so I re-entry this time with 3 ticks Stop Loss!! That's right, and it never breached. And I held it for more than 2 hours! How many times my mind asked me to bailout at decent profit, I neglected it. In fact, I got out more than I expected. Plan A at 3304, Plan B at 3180. Got out at 3184, near the Plan B. But in the process the 3304 were so tempting. But I stayed with the logic. Price never pullback above 61.8% Fib. That's sign of weakness. Besides, intraday range still less than 100 ticks at that time. So I waited and waited and finally, got out with highly satisfaction. 1 contract: 60 ticks, Risk Reward: 10 times :)
203 ticks in 1 week, sure is a good week for currency trading...

3 comments:

  1. This is great, transition to really hold profit in a swing trade. Very nice job.

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  2. Hi MBA,
    Tq for coming.. u too had nice Friday :) saw those setup too at ZS. Too bad I already happy with 6E.

    Hi FX,
    Yes, it's harder to hold profit than taking stop losses.

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