Posts
1 December
From 7-9 p.m Singapore Time as shown on the graph;
myLot User Profile
Click to see a bigger picture:
High Price: 1.2679
Low Price: 1.2609
Difference between High Price and Low Price
= 1.2679 - 1.2609
= 70 pips
Therefore,
Stop Loss = 70 pips
Take Profit = 70 pips
(Risk Reward Ratio = 1 : 1)
How the Trade Went
Price hits the low price from 9-10 p.m. Singapore time. But it hit my Stop Loss before 1859 p.m. the next day. Bummer!
Thus,
Entry = 1.2609
Stop Loss = 1.279
Take Profit (Target) = 1.2539
However, Price hits my Stop Loss.
Monday Result: -70 pips - 7 pip (Spread) = -77 pips
Loss: 77 pips x $0.25 = $19.25
Dang! Forced into Martingale. Will be trading $0.50 per pip on Tuesday.
2 December
From 7-9 p.m Singapore Time as shown on the graph;
Click to see a bigger picture:
High Price: 1.2706
Low Price: 1.2620
Difference between High Price and Low Price
= 1.2706 - 1.2620
= 70 pips
Therefore,
Stop Loss = 86 pips
Take Profit = 86 pips
(Risk Reward Ratio = 1 : 1)
How the Trade Went
Price hits the high price signaling a long entry from 9-10 p.m. Singapore time. But it hit my Stop Loss before 1859 p.m. the next day. Bummer!
Thus,
Entry = 1.2706
Stop Loss = 1.620
Take Profit (Target) = 1.2792
However, Price hits my Stop Loss.
Monday Result: -86 pips - 7 pip (Spread) = -93 pips
Loss: 93 pips x $0.50 = -$46.50
Net Loss (Weekly): -$65.75
Forced into Martingale again!! I will be trading $1.00 per pip on Wednesday.
3 December
From 7-9 p.m Singapore Time as shown on the graph;
Click to see a bigger picture:
High Price: 1.2663
Low Price: 1.2616
Difference between High Price and Low Price
= 1.2663 - 1.2616
= 47 pips
Therefore,
Stop Loss = 47 pips
Take Profit = 47 pips
(Risk Reward Ratio = 1 : 1)
How the Trade Went
Price hits the low price from 9-10 p.m. Singapore time. But it hit my Stop Loss before 1859 p.m. the next day. Bummer!
Thus,
Entry = 1.2616
Stop Loss = 1.2663
Take Profit (Target) = 1.2569
However, Price hits my Stop Loss.
Monday Result: -47 pips - 7 pip (Spread) = -54
Loss: 77 pips x $1.00 = $54
Net Loss (Weekly): -$119.75
Arrghhh.....forced into Martingale again!!!!!!! I will trade $2 per pip on Thursday. :(
4 December
From 7-9 p.m Singapore Time as shown on the graph;
Click to see a bigger picture:
High Price: 1.658
Low Price: 1.2588
Difference between High Price and Low Price
= 1.2658 - 1.2588
= 70 pips
Therefore,
Stop Loss = 70 pips
Take Profit = 70 pips
(Risk Reward Ratio = 1 : 1)
How the Trade Went
Price hits the high price from 9-10 p.m. Singapore time. My Take Profit was hit between 11-12 p.m. (GMT +800)
Thus,
Entry = 1.2658
Stop Loss = 1.2588
Take Profit (Target) = 1.2728
Price hits my Take Profit.
Monday Result: 70 pips - 7 pip (Spread) = +63 pips
Profit: 63 pips x $2.00 = $126
Net Profit: $6.25
Phew! Out of Martingale with a net profit this week! :) Shall return Next Monday trading at $0.25 per pip again!
