I Used to be a Morning Person

My trade sheet for today reads like this:

Morning Trades: -64 pips

Afternoon Trades: +220.7 pips

Nett Position: + 156.7 pips

I used to love getting up early in the morning, placing a few trades and walking away at 10 a.m.  pip positive and the whole day left to myself to do whatever I felt like doing.

Maybe I’m tired. But I find that I am really struggling to get going in the mornings these days and the afternoon session, which I used to HATE, is now providing me with my profits (as well as recovering my position from the mornings)

Minus 64 pips is pretty rubbish but there were some good trades in that bunch – there were also some right stinkers. I felt as if I was chasing the market and getting out of breath.

At lunch time I took myself off to the gym, got rid of all my angst and prepared to trade the US session.

2 hours of trading this afternoon and my balance sheet is back in positive territory. It would have looked even better except for the last Starbucks trade which cost me 45 pips and slightly more in cash than a Vente Latte.

This afternoons pips came courtesy of the Yen pairs and EURUSD

EURJPY +23.9

SGDJPY +9

NZDJPY +29.8

GBPJPY +43.7

EURJPY +59.7

USDJPY +40

EURUSD +60.4

GBPJPY -45.8

My trades are usually pretty simple executions and EURUSD gave a nice entry on a retracement to the 15ema after the rally failed.

The rejection bar testing the moving average gave the easy entry, the exit came as EURUSD tested the lows from October 2008 and my trailing stop got caught up in the consolidation area. Looking back at the chart I can see that I missed an opportunity to add into this trade at around the 1.2440 level with the pause in the down move as the price retraced again to the moving average. I was a bit busy at the time managing the yen trades which all moved at the same time.

This weekend am I going to be looking back through this weeks trading pattern to see when I am most effective  – I have a feeling it’s not the mornings but I need that substantiated before I change my routine. It could be lie ins for me next week if my feeling is correct YAY 🙂