The London Open

[Dan007]

Didnt take CABLE... What a plum... I knew that would go.

[Dan007]

Ok out of EUR, CRUDE and GOLD

[Dan007]

Well that was painful and boring to begin with, but the end result was good

42 pips on EURUSD
60 pips on CRUDE
35 pips on GOLD

Not a bad morning i guess..Going for breakfast now.

Will answer any questions later.

Hope charts help why i took trades.

D

[FrattonPark]

Hi Dan

All done by 8.45, well done.

I took the EUR/USD trade in the same place as you but cut much earlier. What were you using as a exit?

Thanks

[rockdrive]

Well - It was not such a good morning for me. I spotted crude and was in early at 106.24 but put my s/l at 106.60. Got stopped out by 5 pips and then watched it go all the way down to 105.50. Oh well! School boy error really.

Grabbed FTSE +18 and Gold +19.

Overall down -6 on the day.

Will look for some other opportunities, but will be patient.

Spanked Rockie

[Honest Bill]

I've been experiencing all the psychology stuff, greed and fear, hesitation, jumping in and so on. Today has brought a new experience. I had all my trendlines on, saw all the set ups and forgot to take the trades. I even had a deal ticket ready.

This is a certainly a new one to me. That book the Pimp recommended has just arrived............hmm, might read it tonight.

[ajhill]

Hi Dan

Great calls this morning. Thats why you're the guv'nor

cheers

TonyH

[Dan007]

Originally Posted by SimonRK

you were right - i contemplated an order in crude but wasn't happy with the set up - thought we might have had more of a retrace first.
Well done dan!

Simon

Hi Simon
Did u get many pips this am?
D

[Dan007]

Originally Posted by FrattonPark

Hi Dan

All done by 8.45, well done.

I took the EUR/USD trade in the same place as you but cut much earlier. What were you using as a exit?

Thanks

Good question...As we know this is not an exact science and i wish i could tell u that i have a set plan everyday.

A lot depends on the Pivots and MA's as targets but when the price halts and i am up a good amount of pips, i have no harm in banking. The CCI's are key as well eg crossing back through the 0.00 or -150s/150s.

My daily target is 50 pips per day so when i am up over 100 pips, i tend now not to get greedy. Do that 5 times a week and 4 times per month, thats 2,000 pips a month. If i stick to that plan i seem to do very well. As soon as i go for 300-400 per day i mess up. Dont ask me why but i do. I have learnt my weaknesses and i have learnt how quickly trades turn on me, so i bank when i hit targets.

Cheers
D

[Dan007]

Originally Posted by Honest Bill

I've been experiencing all the psychology stuff, greed and fear, hesitation, jumping in and so on. Today has brought a new experience. I had all my trendlines on, saw all the set ups and forgot to take the trades. I even had a deal ticket ready.

This is a certainly a new one to me. That book the Pimp recommended has just arrived............hmm, might read it tonight.

The psychology side of trading is probably the hardest to master...I have gone weeks where i couldnt take a trade in fear..It will come.. Do not worry...

Have a good read.

D