RE: CHARTS -T LINE TIPS13 Jan 2018 10:31
Good morning doze.Even with small stakes one has to be very careful if trading without stop losses AND not monitoring the trades.
Example below of a grand child's fund £2K. 3 Small straddle trades taken out on Euro/usd £2 a pip on jan 10th. Was making good progress but yesterday made 3 very important errors.
ERROR 1.As I was not trading and doing sa work did not bother to check for major news announcements. see below
ERROR 2 Took out a naked further short at 8.10 am
ERROR 3 As bets were small had been left with 3 losing short bets from the straddles
and the above naked short without stop losses and no counter long bets in place in case market took off as was convinced price would drop.BIG MISTAKE.
IF I had been monitoring the trades I would have had the option to take out 3 'force open' longs and additional longs following the trend. SO STILL NOT DISCIPLINED despite new year's resolution.This is why 90 per cent of traders blow their account.
On a brighter note had 3 quick fire winning trades on my main account between 8.30 and 9 am.
guess what happened. Sod's law.Price took off north almost immediately after 8.10 am and after major news item at 1.30 and again after london se closed. closed dealing platforms after the quick fire trades as busy with accountancy work so did not see warning emails that my bets may be closed off if additional funds were not introduced.
chart and trades below.
The High Impact Financial News Events listed below are scheduled to take place over the next 8 hours.
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US
01-12 13:30 GMT Core Inflation Rate YoY
US
01-12 13:30 GMT Inflation Rate YoY
US
01-12 13:30 GMT Retail Sales MoM
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chart 10 minute
http://content.screencast.com/users/LEFKOSIA/folders/Default/media/46c478de-908c-4c1d-a080-b3c9ac7291b1/EUR_USD_20180113_09.07.png
trades closed out by IG
12/01/18 DEAL EUR/USD DFB -2 11944.6 12217.2 £ £-545.20 DIAAAACD6MW4YAY
12/01/18 DEAL EUR/USD DFB -2 11944.9 12217.2 £ £-544.60 DIAAAACD6MNSCAZ
12/01/18 DEAL EUR/USD DFB -2 11944.8 12217.2 £ £-544.80 DIAAAACD6M7X
3 quick fire trades
12/01/18 DEAL EUR/USD DFB -100 12107.2 12105 £ £220.00 DIAAAABPC2YHRA2
12/01/18 DEAL EUR/USD DFB -100 12108.9 12105.2 £ £370.00 DIAAAABPC23D2AV
12/01/18 DEAL EUR/USD DFB -100 12110.5 12107.2 £ £330.00 DIAAAABPCZ44
GLITA