Hi,
It is Saturday, the no trading day. On this day I normally come up with the summary of all that I did in trading in the last week.
So to start with following were the entries that I opened last week:
1. Sold Eur/Usd at 1.3351 for a stop loss of 100 pips and a profit of 50 pips.
2. Sold Eur/Usd at 1.3401 for a stop loss of 100 pips and a profit of 50 pips.
3. Bought Eur/Usd at 1.3199 for a stop loss of 100 pips and a profit of 50 pips. (2 times)
4. Bought Eur/Usd at 1.3049 for a stop loss of 100 pips and a profit of 50 pips.
Now all these 5 deals were kept as an entry order considering the momentum of the trend directions at those very particular moments.
Also, all these deals got triggered, and 3 of them even closed in profit.
Now I am left with 2 unclosed deals, the 2 bought orders at 1.3199 and the other at 1.3049 respectively.
If I have come up with a contemplation of all these, then I have 2 things to say.
First that I could have sold another time at 1.3401 and also, I could have avoided buying another one at 1.3199.
I take that as a learning and will try to be more careful in the coming week.
Now in the current scenario, if I end up losing on both the open bought deals, I will lose 200 pips; which will be minus 50 of the current week's earnings.
Therefore, I will initiate another buy order at 1.2999 with the usual 50 pips in profits and 100 in losses so as to get into a no profit no loss scenario with my current week's earnings.
Hope you have a great weekend and a life ahead !!!
It is Saturday, the no trading day. On this day I normally come up with the summary of all that I did in trading in the last week.
So to start with following were the entries that I opened last week:
1. Sold Eur/Usd at 1.3351 for a stop loss of 100 pips and a profit of 50 pips.
2. Sold Eur/Usd at 1.3401 for a stop loss of 100 pips and a profit of 50 pips.
3. Bought Eur/Usd at 1.3199 for a stop loss of 100 pips and a profit of 50 pips. (2 times)
4. Bought Eur/Usd at 1.3049 for a stop loss of 100 pips and a profit of 50 pips.
Now all these 5 deals were kept as an entry order considering the momentum of the trend directions at those very particular moments.
Also, all these deals got triggered, and 3 of them even closed in profit.
Now I am left with 2 unclosed deals, the 2 bought orders at 1.3199 and the other at 1.3049 respectively.
If I have come up with a contemplation of all these, then I have 2 things to say.
First that I could have sold another time at 1.3401 and also, I could have avoided buying another one at 1.3199.
I take that as a learning and will try to be more careful in the coming week.
Now in the current scenario, if I end up losing on both the open bought deals, I will lose 200 pips; which will be minus 50 of the current week's earnings.
Therefore, I will initiate another buy order at 1.2999 with the usual 50 pips in profits and 100 in losses so as to get into a no profit no loss scenario with my current week's earnings.
Hope you have a great weekend and a life ahead !!!
