Message 50

Apologies, was so busy last week didn't get a chance to update the blog. last week was a very poor trading week, lost most of my trades for various reasons described below. Summary of the trades taken last week as follows:

Trade 21

Closed Sep 8 @ 1.4450 / -100pips / -£286.77

Trade 23

Sep 8 - EUR/USD - Short - 70k units @ 1.4384 - 26pip SL - 1.46% capital at risk

Closed @ 1.4410 (Sep 8) / -26pips / -£110.43

This was the aggressive short - it was too aggressive and plain stupid in retrospect. Never average up/down your position.

Trade 24

Sep 8 - EUR/USD - Short - 50k units @ 1.4477 - 48pip SL - 1.95% capital at risk

Closed @ 1.4525 (Sep 8) / -48pips / -£145.51

Another short against what turned out to a be a strong bear weakness in the USD all week.

Trade 25

Sep 8 - EUR/USD - Short - 30k units @ 1.4495 - 30pip SL - 0.73% capital at risk

Closed @ 1.4525 (Sep 8) / -30pips / -£53.78

Further position added to previous trade - same outcome!

Trade 26

Sep 9 - NZD/USD - Long - 20k units @ 0.6954 - 56 pip SL - 0.92% capital at risk

Closed @ 0.6899 (sep 9) / -56 pips / -£67.08

The lengthening of the spread at rated decision time to stupid levels stopped me out grrr!

Trade 27

Sep 9 - AUS/USD - Long - 20k units @ 0.8619 - 27pip SL - 0.45% capital at risk

Closed @ 0.8592 / -27pips / -£32.40

The NZD interest rate news event also caused a spike in the AUS - I will never enter trades for which the price could move over night due to risk events where I'm not sitting up and watching!

Trade 28

Sep 10 - EUR/USD - Short - 75k units @1.4594 - 31pip SL - 1.51% capital at risk

Closed @ 1.4618 (Sep 11) / -24pips / -£108.65

Trying to pick the top and start of a retracement...stop loss too tight.