Forex/Commodities – 4hr Trading using MT4 (Live)
- XAGUSD (Silver) – short – closed today for a £20.52 loss (Hit stop loss)
- EURAUD – Now 2 Long positions
- EURCAD – Now 2 Long positions
- USDCHF – Long – closed today for a £6.07 loss (10EMA back into channel)
- XAUUSD (Gold) – long opened this morning as 10EMA crossed channel.
On my gold trade, there was a very narrow risk level, meaning a larger trade is possible and also larger profits (losses still kept to same amount). As the risk is narrower, a sencond, third and fourth entry point come much more quickly. I missed the second AND third entry… I never raised the pending orders at the same time as opening the trade. (LEARNING POINT)
Currently the price is below where entry point 3 would have been, so I’ll be raising a pending order for that level and for level 4. I’ll have to accept I missed out on an extra entry at level 2.
Stocks – End Of Day (Demo)
- Kontron AG – Long Position
- Thomas Cook Group PLC – Long Position
- Firstgroup PLC – Short Position
- Caragon Networks Ltd – Short Position
- BP PLC – Long Position
- Royal Bank of Scotland PLC – Long Position
I have BAE systems on my watchlist which has just dropped below the channel, however, the stop loss level leaves a large margin and at the minimum order size of 0.5 per point, it meant my rish was £48, over double what my risk should be at my current account size. So this trade will have to be missed.
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The information contained within this blog/website and any information contained in any social media account related to EXF Trading is intended for interesting reading only.
I am not qualified or considered an expert in any aspect of trading and the words which I write are my opinion only and not to be considered correct.
If you trade based on any of my information, you do so at your own risk.
I urge you to do your research and make your own conclusions before considering trading.
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