Forex/Commodities – 4hr Trading using MT4 charting software with broker AxiTrader
- EURUSD – Long, approx 119 pips of locked in profit, settling down near the MA.
- AUDUSD – Long, big moves today, creating newer highs.
- USDCHF – Short, CLOSED trade for a small loss.
- GBPUSD – Long, signal to BUY today.
- NZDUSD – Long, signal to BUY today.
Stocks – End Of Day (EOD) Trading using IG.com broker and platform
- BT Group PLC – Short Position. Huge gains today giving a close signal*
- Kontron AG – Long Position.
- Thomas Cook Group PLC – Long Position
*Stock trade cannot be closed outside of the trading hours of the relevant exchange.
Remember, trading is 80% mindset. Today I see USDCHF catching me out for the second time in a row. I know this could happen 5, 6, 7 or even more times in a row. But I also know, that because of my trading strategy, my losses are cut short before they really hurt. I know through back-testing, that I can afford many small losses in a row and by continuing to trade and not losing hope, I will catch those big moves that outweigh these small losses.
I also see my BT trade closing tomorrow at a small profit. It feels a little disappointing seeing only a small profit when at one point the profit could have been more. Nothing is profit or loss until closed, until then it is all theoretical profit or loss. And no system will ever find the perfect entry and exit points. Every profitable trade will always have either; a point where it was more profitable, or a point where it will be more profitable if you held the trade longer.
Like I said, 80% MINDSET!
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