This past week has been fairly busy for me, so I haven’t had much time to write. Ok, to be honest, I haven’t been that busy; I’ve just been too lazy to publish anything over the past 12 days…sometimes you just don’t have the drive to sit down and type out some content, ya know? Anyway, as a result of my laziness, this makes this post quite overdue, as it covers my trading activity from last week. This week’s activity will in turn be covered in another blog post that I’ll hopefully publish this weekend.
In any case, not much happened last week. All the currency pairs I follow were still mostly chopping sideways, consolidating, or retracing, which really limited the number of viable trades I could take. The only pair that did end up presenting an opportunity was none other than good ol’ Geppy.
|ENTRY DATE||2/10/16 – 6:08 PM|
|EXIT DATE||2/11/16 – 3:49 PM|
Geppy had been consolidating during the first half of the week, but on Wednesday it seemed like it was starting to pick up downward momentum again in the direction of the major downtrend, so I opened a position.
The pair fell down nicely for a while and reached a low of about 1.5 times my risk in profit, retraced for a bit, but then started consolidating again instead of resuming its fall. Had it started moving down again I would have opened a second position to start creating a pyramid, but the way it chose to consolidate didn’t make feel confident enough to place another trade.
I ended up simply moving my stop loss right above this new consolidation level, which was roughly at 0.9 times the amount of risk I had taken in profit level. The next day, my stop loss unfortunately got hit, and the pair just continued chopping sideways through the close of the week. I walked away with 45 bucks, which is still better than nothing though.
And that pretty much wraps up the summary of last week’s trading activity.