With all the currency trading I’m doing, I’m starting to see the market reviews as less productive. It reminds me that I should probably either scrap all the stock stuff, or otherwise come up with a very concise system of how and what signals I want to trade. I looked over some charts today and they just look so much less appealing.
For today though, I wanted to go through a trade I made last night with the ITT system in mind on AUD/USD(although as I’ll explain tomorrow or Sunday I made a small change). The Yellow line is the previous day’s (the 9th) low. I prematurely entered a trade, and cut out shortly after. I then reversed the trade into a long once the low of the day showed thinking it would be a reversal. I made 2 positions, and took profit at the small green circle and the triangle 2 bars on the right of it.
Trades in at 1.05101, trades out at 1.05402 and 1.05635. Roughly 30 pips and 50 pips, woo! This weekend I’ll be setting up a brand new demo account to track some strategies.