Olby's Journal

[Olby]

Short Scalp at 186.15. +5 pips

I was a little bit trigger happy. I didn't trade the reversal this week as I was holding out of the market to let it calm down after the gap. So maybe I stored up a bit too much post holiday keen-ness.

I entered as it crossed the line (2 pips over). Where it abruptly stopped. Then got caught up in some flaky price action.

After 15 mins under the line I had a spinner on my 15 min chart. I closed two mins before it jumped off to continue past where my 50 pip stop was.

Right now all I want to do is take a trade and hold it through to target. But today I made a rational head decision to exit. And, I got a few pips, even after I was slipped a couple, so I can't complain.

[Olby]

Long scalp at 190.84 +16

Actually +32 but I only had half a position in due to the time of day.

As a post analysis I maybe should have let it run to a 50 target, due to the fast market. But trade the plan and all that and my plan is smaller targets out of London hours.


As a footnote. I didn't get a fill on a GU long scalp at 1.8128 just before this one. So I'm missing some pips coz of my (new) broker.

The joker.

[NickB]

smaller targets don't mean 16 pips small.... 30 pips is fine. Either way good work on that break.

[Olby]

I got 32 pips on the trade.

I figured that as I only had half a position in, it might make it clearer in my monthly wrap up of how my account is doing, if I knocked half off now.

Think it makes sense.

Might not.

Might just be confusing.

[NickB]

Oh ok my bad, thats good then you targeted the right amount, great trade!

[Olby]

EUR/JPY Long Scalp at 151.52 +22 (+11)

I don't normally trade EJ so I only used half a position. Profit target 30. I entered the break well. By well I mean quick, which might not be the same thing. Turns out I was in before it broke properly. The approach had momentum but price got stuck on the line. So, in the trade, I was not that convinced of the strength of the move. It retraced a bit, then broke properly, then just hung there 25 pips above the line. Took profit half and hour in when I felt that proper momentum had gone.

Happy with the trade.

[Olby]

September Pip Total: +59

But of that, only: +32 full position pips.

Even after I took the first week of the month off that's rubbish. But I guess I must be happier than a lot of stocks traders right now.

I'm not too despondent. It's been a fairly extraordinary month.

I'll put it to bed and look to October.

September: +59/+32
August: +75

[wombles]

All bankable pips Olby.
Well done.

[Olby]

Short Scalp at 186.41. +32 pips

I closed this at the round number @186. A lucky escape.

Reason for closing was that I felt the trade was a bit soon after news.

On a different note. I've made a change to my money management and may yet alter it a bit more. So from here on in, this journal is just about the pips.

[NickB]

Yeh man not a safe market right now with the bail-out plan pending. I'm staying out.