Dienstag, 5. Juli 2011

July 5th, 2011

Had tuesday off, so I was able to trade the NYC AM session.

Noticed pretty early on that it was a slow and ranging market, not optimal for scalping, but I came out alright.

I've been experimenting lately with using a combination of stoch/laguerre indicators to help me determine the likely-hood of a price bouncing off a level or busting through it. Had decent success so far.

I'm starting to get pretty good at noticing when a trade is about to go bad and cutting my losses early. Worst loss today was -3.5 pips, though most were -1 to -2.

I also started today trading the news. With mid to high importance news events I've noticed there's usually a lull right before it, then a breakout when the news hits. So i'll sit and wait for a breakout either direction to happen, then get out as soon as it starts to lose steam. I'd consider these low risk, because my stop is going to be break even, if it were to reverse at the beginning of a big push, then it isn't really a big push at all.

Pic attached below.

All in all, stats for today were great. Hit rate still sucks.

Net pips: 18.8
Trades: 8
Winning trades: 4
Win %: 50

On a secondary note, after having several 1-3 pip nights on the asian session, I'm officially giving it up, it's just not worth it. I'm thinking about adjusting my sleep schedule and hitting the London open.






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