Tuesday Flashback

Excuse the naff titles but I’m on a roll so bear with me on that one!

Yesterday was a pretty remarkable day trading wise and whilst my TUFXP method missed trading I did manage to secure several decent trades and a handsome profit was made, it’s brought July well into the green zone and it’s always a good feeling to get on the winning train.

The original TUFXP method had a win but not before a big scare when Moodys downgraded Portugal’s status. Here is the chart:

I didn’t enter this trade as the 50 SMA was still trending down but I suppose an excellent entry was possible when the trade went to -25 or so before rising all the way back up. It seems to return to my dilemma last week when I was questioning whether to avoid invalid trades or take a significantly better entry. On this occasion I didn’t take advantage of the better entry but I have made annotations in my results.

I’m finding my results are an invaluable part of my trading as when I need to find something I know exactly where to find it. I’ve always been big on keeping strict results and it stems from my racing days. Ask your average punter their P+L and they’ll 9/10 reply with an inconclusive answer. I imagine it’s the same for a lot of traders. If anyone would like any help on how best to record trading results, just let me know, I’d be happy to help out.

So the scores for July for the TUFXP method are -25 pips for the original method and -14 for my method despite not trading yesterday.

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