Journal

[CPTRADER]

GBP/USD may be a posible trade, i will be waiting for.

Also GBP/JPY could be a poslibe trade.

[CPTRADER]

I am starting to notice and understand more about the correlation on some pairs by observing the way they move every day.

I may just discart some pair that are well correlated because there is not poit on placing three diferent orders, one on each pair if they all are going to move in almost the same direction , one after the other, it will be almost like placing a big order on jus one pair and risking way to much.

This is a good learning prosses, i like it.

[CPTRADER]

I opended a Long trade on USD/CAD At 1.02726, SL , 1.02449 and profit target at 1.03800.

A 30K order.

A wining trade will addup about $300 and a losing one will be about $80.

I have at risk about 2% of the account on this trade.

Lets see how it goes from hear.

At this moment that i am writing this i am down 6 pips, so lets wait and see where price is going to go.

[CPTRADER]

OK, the SL for the USD/CAD got hit and i am out with a lost of $80.

The account is now down to $3,920.

It only took about 20 minutes to proof that i was wrong.

I will now wait for the next trade.

[CPTRADER]

I am looking at GBP/JPY as a posible trade.

[CPTRADER]

GBP/JPY did not come up.

[CPTRADER]

Yesterday i was looking at USD/CHF and spoted a posible trade, since i was not going to be near my PC, i placed a limit order to sell at 1.04754, SL at , 1.05195 and posible profit target was at 1.02000.

When i got back, the order had been fild.

Now i have a 15K SELL order.

If the trade is a winer, it will add up to the account about 12%.

If it is a losing trade,it will lose about 2%.

As i am writing this, the price is 1.04660.

Lets see how this trade turns out.

[CPTRADER]

Today i am still in the USD/CHF trade.

It is on the wining side.

Lets wait to see if it keeps going down.

[CPTRADER]

As today the price si still going down, there is kind of resistance at the moment, if price trade below 1.03700 i will feel better as this seems to be the resistance that is holding the price.

[CPTRADER]

As today price has not been able to come out of the congestion zone.

IF prices moves down below 1.03500 i may move my SL to break even.

I will be waiting.