Jittery Nerves

Today was a slightly frustrating one in the sense that pips were definitely left behind in the market. My trading room was pretty busy this morning and almost immediately after 10:00 GMT, a trade looked likely to form. In my haste to make my pending trade aware to other people in the room, I set the wrong entry for my trade. This hasn’t happened before but neither have I been trying to place a trade and announce a trade. I had the entry 3 pips to low and those 3 pips were the difference between a loss and a win. Whilst it was very frustrating, it also settled my nerves. I now know the process of calling trades and keeping people up to date with pending orders. I did manage to redeem myself with a winning trade on EURUSD for +14. I decided to close this early as I wasn’t particularly happy with the way EU was resisting to go higher, everyone in the room managed to close for at least 12.5 pips, some 13 pips. It turned out to be a good call as the highest it went to was +14.7, 0.3 short of full scalp. This is the beauty of having a live trading room as I can manage my trade with other people and make them aware of reasons behind my thought process. So a breakeven day on my new method but it could have been a lot better, but I am a patient and disciplined person, I will not chase the market, I’ll wait for the market to come to me. I am compiling a nice Q&A for everyone who joins my trading room and with the help of everyone already there, it should help newcomers settle in quickly. 

TUFXP decided to play ball and again GBPUSD gained +28 pips ( 3 better entry). It transpired that not everyone got the corresponding signal and shortly afterwards, IQFeed went down yet again for over 23 minutes. My constant emailing to IQFeed has managed to bring about a new feed though, one which I can use when FXCM feed goes down, so at least I am getting some return on my $80 feed. TUFXP themselves though have still yet to reply, even after 5 emails regarding this matter. A truly shocking display of customer support.

I’ll add my trade management post sometime tomorrow.

    • Furrymilo
    • November 17th, 2009

    So today was the start of the new trading strategy and a bit of a shakey start due to a few teething problems, but nothing to get concerned about as it was bound to happen.

    A loss on the GU and a win closing manually on the EU, brought it back to b/e or thereabouts, so happy with that.

    I enjoyed today and reckon the strategy is ultimately sound. I have a feeling it’s going to be extremely profitable for us, as long as we stay disciplined and keep the faith we will be fine.

    As the weeks go on we will all get familiar with the system and the way trades are called and day by day i’m sure the trading room daily routine will be perfected.

    Anyway onto tomorrow now, let the pips rain in!!!

    • pipsqueek
    • November 17th, 2009

    Congrats on your 1st day John.

    • Furrymilo
    • November 17th, 2009

    Oh one last thing, something that may have been overlooked, the fact that the big man (Dubai) kept us out of a loser on EJ, good trading!!!

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