15 Aug 2018 - Forex Diary


8:25 am BST

GBP and Euro and AUD the buys since 6am ....selling usd and yen more recently so good action now ......been working cable up from 2700 levels , EJ from 126 levels and EU from 113.20's........this is my favourite correlation pattern for trading ....you cannot lose if this holds for a decent period of time

8:38

2722 to 2729 recently on cable .....nice scalp ....gbp still the alpha buy

8:52

cable back at 2722.....looking to come back in

8:56

still waiting ......2718 .....

8:58

easy play is above 2720 on 9am bar

9:01

price still falling at 9am bar .....so ive not gone cable rebuy yet

gbp currency has now given half its gains back from 6am ...but i will still wait for rebuys

9:04

if it holds above 2715 i will buy cable

9:09

toughest call as a trader is having a bias and watching the price go against you .....all you do is scream to reverse you r bias and chase the new direction ....watching pips missed

but thats trading.....if you reduce your bias criteria each time price moves its not long befroe you are just chasing the price mindlessly ........this morning i happily took pips buying euro and gbp and selling usd and yen......i cant complain if i see all those prices reverse 100% back down .....i just have to sit and suffer it happening

9:16

realistically i could have decided to start selling from 2720 levels this morning ...but for various reasons on my strengthmeter work i have decided to wait ....such is life

if you tell yourself you have missed 15 pips of selling then you would never survive for long as a tradser ....such psychological mindsets destroy your emotions .....the battle is hard enough without letting such weakness inside your mindset armour

9:17

another look at cable at 2715...again if it holds we look to start buying

9:20

already took EJ at 125.97 rebuys went at 2713 on cable

9:21

126.08 already on EJ ............2719 on cable ...locked in already

thats how we do it ..... !!!

i hope that last period gives an insight into how to trade your plan with 100% focus

DO NOT BE SWAYED BY THE MARKET

PLAN YOUR TRADE and TRADE YOUR PLAN - 24/7 365

9:30

heres what i mean ........i just stepped away from the market during the cable pull back i did not trade..i did not chase it south ...i stepped back ..that is what good trading is all about my plan told me that GBP is the alpha bull currency london session ...so trust it to go bull again .....you do not have to trade ....the less you trade (avoiding loose trades) the more money you will make

12:25 pm BST

today has been pretty light on any decent currencies to sell ....even when usd finally got bullish i have been struggling to find my GBP or Euro to sell .....im not to fussed about the other currencies especially london mornings ....i like playing gbp or euro in pairs

ej was finally borderline around the 126 level for selling today .......125.68 now and perhaps 2-3 decent scalps were possible from 11.30 bst ...but i was tied up elsewhere

cad is the thumping sell more recently so UCAD buys would have been ok ...i can see decent opportunities up from the 3090 to now 3109 levels from around 10.50 BST


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