Forex/Commodities – 4hr Trading using MT4 charting software with broker AxiTrader
- EURUSD – Long, approx 178 pips locked in profit.
- AUDUSD – Long, approx 75 pips locked in profit.
- GBPUSD – Long, SL adjusted and near break-even.
- NZDUSD – Long position
- USDCHF – Short position
Last week I was concerned over my positions all being against the USD. If the USD was to rally back, it could stop out all my trades at once.
I’ve now set up other major pairs on my charts, giving me more to watch but also be able to hold positions that will not be affected by a single currency.
Also, on the charts, I’ve set up a daily and weekly chart for each currency pair so I can see the overall trend. This will enable me to choose to only trade either long or short on the pair, depending on the overall, longer term trend. Trading with the trend will have better long-term chances of being profitable.
Stocks – End Of Day (EOD) Trading using IG.com broker and platform
- Kontron AG – Long Position
- Thomas Cook Group PLC – Long Position
Both trades moving in my favour. SL on both still sat at original position so no locked in profits.
No new trades to take as yet. Amended stocks on short-term watch list to focus on through the week.