Forex/Commodities – 4hr Trading using MT4 charting software with broker AxiTrader
- EURUSD – Long, approx 178 pips locked in profit.
- AUDUSD – Long position
- GBPUSD – Long position
- NZDUSD – Long position
- USDCHF – Short position
Something I am aware of is that I’m currently heavily trading AGAINST the USD through various currencies, and I may need to find some way of hedging this position in case of a trend turn-around.
The USDCHF trade I entered yesterday, and wrote about the psychology of taking that trade, has fallen drastically in my favour today. Continuing with the psychology of this trade, imagine how I’d feel if I didn’t enter that trade yesterday through fear. Today I’d be kicking myself.
I’m testing a “Turtle Trader” system on top of the simple Moving Average strategy to really capitalise on catching a trend. The AUDUSD rally recently would make a great basic trade, currently up around 279 pips and around 73 pips above the 4th trade entry.
Currently this would return a reward of 14x your risk (up 14R) – to put this in perspective, if you had a £10,000 account, your profit on this trade based on a 2% risk would be £2,800 which is over 25% profit!
If you’re interesting in finding out more about this “Turtle Trading” tool, drop me a message.
Stocks – End Of Day (EOD) Trading using IG.com broker and platform
- Kontron AG – Long Position
- Thomas Cook Group PLC – Long Position
Not much to talk about with these two open trades. A small rise in TC and a small drop in Kontron, but both very minor.
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