Thursday, August 6, 2009

08/06 Day Trading FOREX

Today was another great trading day. It started choppy for me, as my trading station lost all my charts. So it took me some time to reconfigure. If it wasn't for the chart mess I would likely to have entered on a retracement re-entry on the GBP/USD after the interest rate announcement.

One way or another, I had two trades Today, they both worked fine.

Capital Allocation: A+ Properly allocated for the trade
Keeping Limits: A+
Stop Management: A+ Managed to add the stop and link as OCO to the limit
Trade Set-up: A+ Took the best set-ups in my mind.

1) Long GBP/USD: After crashing down 100 pips in less than 5 minutes, I expected the GBP/USD to retrace, I got this entry signal above the SMA21 and breaking the trend-line. Got in there and rode it to the target. +3.9% ROI

2) Short AUD/USD: After the US markets opened, we all noticed weakness in the S&P 500 futures, that brought the currency pairs down as it strenghtened the USD. So, took this short set-up on the AUD/USD and rode it to the target again. +4.39% ROI

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