Trade opened on the DAX
Opened a long/buy position on the DAX. My stop is just under the lowest recent low around 11700, this is a large stop loss but I think the price will swing up from above this level.
Week update
A good week overall. Over 300 points on the DAX and could have squeezed more. I now expect the price to swing back this coming week as we lead up to Easter.
AUD/GBP after the breakout, the price has fallen and fallen. a good call but I like to wait for levels to be retested before entering after a breakout. In this case it may not happen. Let’s see over the coming week.
AUD/NZD this looks like it is ready to fall on Monday as the support level broken again.
Bitcoin was down and I was up over 200 points… as I write I have a loss of a few quid. If I get another signal to close the trade and change direction i shall do so even if it’s Saturday or Sunday.
I hope you are starting to see that trading is all about support and resistance levels, keeping your stops tight and letting your profits roll. There are opportunities everywhere and every week, we just research them and then stack the odds as best we can in our favour.
Check out my blog over the weekend as there will be a post about trading bitcoin. Some of you may find that useful too.
2/1 on AUD/GBP closed trade
So my stop loss was only 20 points on the AUD/GBP trade , I have closed for a 54 point profit, more than 2/1 risk reward. The price may well continue in the right direction, however, my plan was 2/1 and that is what I have stuck to.
Our USD/JPY trade lost using the Heikin Ashi strategy. Even though the price did move down past our entry point after we were stopped out. It can be frustrating to new traders but my advice is get used to all these ups and downs.
Over the course of a year, learning from what I do, you’ll have more than mastered trading. It all takes time. This is what you need to learn. And staying disciplined is how you’ll learn.
DAX 25/100 buy signal
The DAX has just given a 25/100 buy signal on the 15 minute charts. Remember that trading using this strategy can encounter many small losses before the big wins. Over time this strategy is very profitable.