Tough start

Well yesterday wasn’t the best start to the week but neither was it exactly a disaster and only a small loss of 15 pips after spread for TUFXP. My filter method managed to avoid the 2nd loser and I had called it quits by then anyway as I knew it was a bank holiday in the states and only had intentions to trade the morning session.

There was some pretty decent movement on GBPUSD in the morning and unfortunately TUFXP was on the wrong side of it. Here is the first trade which was pretty much a good setup in terms of everything agreeing but in hindsight 1.5200 was always going to be tough to pass on a weaker than usual Monday considering how hard it was on Friday after NFP.

So a small 13 pip loss  (15 after spread for me) and as there wasn’t any more valid trades before the end of the morning session, I pretty much called it quits and only returned a little later to see how everything was looking.

This was the 2nd losing trade that the stochs indicated was pretty deeply oversold and on a weaker than average day, a bounce is pretty common.

I’ve actually yet to have a winner on the filter method for July and I’ve quickly found myself down 114 pips after only 3 trading days but there was a swing of -100 pips in June and the month still ended up close to 300 pips in profit so still plenty of time to recover.

Hoping today can be a little more productive..

And finally…apologies for the new blogger not arriving yet, he seems to of disappeared off the face of the earth…Graham if you’re reading this, do get in touch..

    • Gerry Hughes
    • July 6th, 2010

    Hi, I follow cashmaster/Graham Laurie method so would be interested in joining your trading room . Plewase advise me of the costs if there any


    Gerry Hughes

    • Hi Gerry,

      I’ve sent you an email containing details of how to locate trading room. Hopefully see you soon.

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