Magpie Trader
Wednesday, October 26, 2005
26/10/05
Short CAD at 1.1757 SL 1.1780
-46
stop and reverse at 1.1776. SL 1.1760. TP 1.1800 (headfake - joy!)
-32
stop and reverse again with 1... at 1.1759 SL 1.1780
closed 1.1777 as it's rebroken the TL - leaving this alone for today...
-18
Some inspired CAD trading today.
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long cable at 1.7845. SL 1.7822
-46
cable stop and reverse at 1.7818
taken half at 1.7799, SL moved to 1.7812 > SL moved to 1.7787
out at 1.7783, the pivot and the 38% fib seem to be holding
+54
short at 1.7778. SL1.8000 - closed at 1.7774 - not moved in the alloted time so exited. There could be a shake out south still before the major up trend continues, so I've got a limit buy at 1.7825 SL 1.7795 as I'm off to bed.
+8
-80 for the day and thanks for the lessons.
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The first couple of trades (the ones with a minus next to them) above is over confidence after yesterday and not taking time. Just sticking to the ACD method or a simple breakout strategy would have put me positive instead of jumping in thinking I knew better - especially for the cable trade. The CAD trade was a TL break south and the trend is south, but now price has had two closes in an hour back above the TL... and now it's broken back below it... should have stuck with the first trade - must have been due to pay for a market lesson today.
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Long cable 1.7771 with 1. SL 1.7742 - now off to bed
-46
stop and reverse at 1.1776. SL 1.1760. TP 1.1800 (headfake - joy!)
-32
stop and reverse again with 1... at 1.1759 SL 1.1780
closed 1.1777 as it's rebroken the TL - leaving this alone for today...
-18
Some inspired CAD trading today.
--------------------------------------------------------------------------------------
long cable at 1.7845. SL 1.7822
-46
cable stop and reverse at 1.7818
taken half at 1.7799, SL moved to 1.7812 > SL moved to 1.7787
out at 1.7783, the pivot and the 38% fib seem to be holding
+54
short at 1.7778. SL1.8000 - closed at 1.7774 - not moved in the alloted time so exited. There could be a shake out south still before the major up trend continues, so I've got a limit buy at 1.7825 SL 1.7795 as I'm off to bed.
+8
-80 for the day and thanks for the lessons.
------------------------------------------------------------------------------
The first couple of trades (the ones with a minus next to them) above is over confidence after yesterday and not taking time. Just sticking to the ACD method or a simple breakout strategy would have put me positive instead of jumping in thinking I knew better - especially for the cable trade. The CAD trade was a TL break south and the trend is south, but now price has had two closes in an hour back above the TL... and now it's broken back below it... should have stuck with the first trade - must have been due to pay for a market lesson today.
---------------------------------------------------------------------------------------------------------------
Long cable 1.7771 with 1. SL 1.7742 - now off to bed
// posted by Magpie @ 7:57 pm 
