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Well this is not a very good first week for this journal, but i did say it would honest and include warts and all.
Demo account Aug 29, 2008 02:51 GMT Sell GBP/JPY 199.62 closed 199.22 (Aug 28, 2008 07:31) 40 pips
Woke up by tkt alert was going to take this one on live account but just didnt like the price action (lots of bouncing up & down, not the real solid downward momentum I was looking for. - So I excecuted the trade on a demo a/c just to see!
Live account Aug 29, 2008 09:26 GMT Sell GBP/JPY 198.47 closed at 198.77 (Aug 28, 2008 09.54) -30 pips
After the sucess of the Deno trade I managed to convince myself this pair would continue down, I positioned an entry signal on the break of psycological level 198.50. It didnt work out. Lesson here is that I did not follow my trading plan - which would have said entry on high momentum break of next s/r level, in stead I "made up" a high risk level and "chased the market".
weekly totals
Live -60 pips
Demo 138 pips
So to summerise the week - I either entered the live account trades too late or chased the market for entries (outside my trading plan). Again chasing trades. Now the trick is to see I can learn from these lessons next week & beyond.
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