What a Great Day for Trend Traders

Don’t we love days like this?

This is the kind of day that I consider my bonus day. Where I pay myself for the years of chart watching, testing strategies, losing money………losing my hair (only joking) trying to get this trading lark right.

Today it felt like I could throw trades on and they would land the right way up. Got some really sweet runners today cos just about everything was trending.

Just as Paul said in his blog – in April everything felt like hard work to me. 

This is the tune that was going through my head last month – Jay Z ‘I’m a Hustler, Baby’ – as I hustled for pips. Man it felt tough

http://www.youtube.com/watch?v=fA8xiDlW-x8

Today was sweeeeeettt.

Tuesday morning felt like Monday morning. I offered to take my daughter to school as the market seemed really quiet. I was already short cable, Aussie and EURUSD.

Entry short on cable at 1.5219 on the break of the low of the arrowed candle, my stop loss was the high plus spread. Entered take profit just below the figure.

So before we left I put some take profit orders far away from the price thinking ‘They’ll never be hit’.

When I got home an hour later and checked my account –  for a brief moment my heart almost stopped…..my trades were not on my account. I was not happy. I thought I’d been stopped out and would have to spend the rest of the day singing Jay-Z whilst hustling for pips to bring my account back to even stevens. I breathed a big sigh of relief when I realised it was my profit orders that had been executed and I was pip positive. Phew!

The rest of the morning was spent taking reentries on pullbacks to the moving averages and by 1 p.m. I was finished for the day

I still have a long term short position in cable, I’m using very low leverage on that one as it has a huge stop and a crazy target. It’s been running for about 3 weeks now and at times the pip count was looking extremely scary, it’s looking lovely now but I still want to see how low this pair will go, I’m targeting 1.50 and we’re not far off at the moment.