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Forex Trading - A very Interesting Day
By Benny Nardino | January 11, 2006
First day back after a little bit of traveling and one that could have ended disastrously. Like they say, ‘you can’t keep a good man down’ but managed to steer things around.
I had three trades today. Two ended positively and the other in a loss. I can’t really complain because it could have been worse had I not moved my stop level. I traded cable, GBP/USD today. I took my first position this morning @ 1.7594 just before but was taken out @ 1.7607 (-13pips). Then I re-entered my position @1.7576. This I eventually exited at 1.7538, (+38pips).
My last position for the day was borne out of patience. There was a fair amount of waiting. It seemed everytime I got away
from the screen to do one or two things there was a move. I missed one @ 1.7540 and another @ 1.7560.
From my analysis you could see that the 4th and the 5th waves of Elliot Waves was pending. The Tweezer Tops @ points 3 and 4 confirms my bias. I got in @ 1.7613. When the move reached 1.7635, I locked in some pips by moving my stops to 1.7625 and set a limit @1.7655. Since this was on auto pilot it took me before I could get some drinks 10 mins later.
For today, I had (-13) +38 +42 pips = +67pips. That is very good for me because it could have been worse if I had not boxed skilfully. If I could make that all year round that will be huge return on investments. I hope your trading day was a great one too.
Hey, if you haven’t done well today beat up on yourself, for a moment it got me fooled too and it almost left frustrated.
Leave me some comments here for some FREE trading tutorials and help. Your losing days may just be around the corner.
Have a great day.
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“A Mentor’s footprint is worth a thousand walk of trailblazing. Seek the WISDOM of the fore-runners.” — Benny
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11 Responses to “Forex Trading - A very Interesting Day”
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January 14th, 2006 at 10:22
Hi Benny, i would like to say tanhk to you for your posts, they are relly helpful for me….It would be really good for me i you can give me any advice, or something in order to improve my trading strategy…..my e-mail:
matiaslmart@gmail.com
Good trading my friend!!!
January 15th, 2006 at 8:08
“A Mentor’s footprint is worth a thousand walk of trailblazing. Therefore seek the WISDOM of the fore-runners, especially in Forex trading.”
Like that
so i have been glancing at Forex for a while but havent yet goten anywhere 
so i found your site throug Forex Factory 
Just wanted to say hi and have a nice trade there
April 14th, 2006 at 23:36
hie Benny….ur blog is really useful…i really learn a lot…how bout the tutorial blog? when is it goin to come out? Will be waiting for it..
Ronnie
May 2nd, 2006 at 15:57
Very interesting blog.
Regards,
Emini Futures Day Trader
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July 6th, 2006 at 18:59
An interesting read…
Regards,
Emini Daytrader
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July 7th, 2006 at 12:06
Great blog.
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July 7th, 2006 at 17:16
Great blog.
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July 9th, 2006 at 10:21
An interesting read…
Regards,
Emini Daytrader
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July 15th, 2006 at 23:02
Great blog.
Regards,
Mini Dow Daytrader
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July 24th, 2006 at 18:02
Great blog.
Regards,
Mini Dow Daytrader
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July 25th, 2006 at 17:37
Great blog.
Regards,
Mini Dow Daytrader
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