Tuesday, 19 April 2011

Trades Opened and Closed on 18 Apr 2011

It was an interesting day. How many times have you seen a no news day turn out to be such an exciting day? Well, to me at least, for I know every day is different for everyone. Hence, the correct answer to this question is, I dont know. Do you know why? Because the markets are "unpredictable". No one in the world can predict what's going to happen in the next moment or so let alone the next hour or day. This is why when we see our setup, we do not let our "left-brain" get in the way. We let the auto-magic trader take over. Auto-magic is a term Bill Williams uses. It means when you over come the problems of the left, "concious" brain, you tap into the para-concious part of your brain. More on this later. So we  just set our pending orders and wait. If triggered do nothing just be in the now and wait for exit signals.

I'll post a few charts of the trades I entered and closed yesterday.

EUR/USD


EUR/CHF
This trade started off H4 chart earlier last week. I was supposed to add on, on the break of aims on H4 chart on the 13th but I failed to do so. Later I started a simultaneous H1 campaign. Again I was supposed to exit all H1 trade and leave the h1 trade on but mistakenly I closed the H4 trade. otherwise there was no clear exit point for H4 at that point. Reason being Alligator was wide open, AO however peaked and diverged was still red, that is momentum was still increasing. But this is sometimes how it goes.


USD/JPY
The reason I took only a small profit was because my entry was timed on H1 into an already established weak down-trend. The same is true for GBP/JPY 

GBP/JPY