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Great Day Trading Today. 4 Trades 139 Pips Profit.

I had a feeling we would have a good day trading today. The markets were nice and volatile so plenty of pips to be had.

We took an entry on Cable late last nite at 10636, with a profit target at 16058. The profit target got hit early this morning and gave us 22 pips to start the day. Its a shame we did not set a stop and reverse trade at 58, as 60 turned out to be the high of the day, and it was a nice steady move down for most of the morning, so we could have banked some nice pips on that move, but we take what the market gives us, and move on to the next trade.

I don’t hunt for big moves, that is not how i trade, if i do catch a big move then that is great, but my strategy is to take short term high probability trades based on price action.

Some of my students like to hold their trades for longer, and take advantage of a big move, but that’s their trading style. I can tell you with the highest probability where the market will stop and reverse, its up to you how long you want to hold your trade for. 🙂

Our next trade was an EJ long trade at 10622 up to 10658 for 36 pips.
We followed that with a Euro long at 12879 up to 12930 for 51 pips. Nice trade. 🙂
Our last trade of the day was Cable long at 15006 up to 16036 for 30 pips.

The EJ trade was over pretty quickly, but Euro and Cable tested my patience a bit, particularly Cable that just sat at just above 160 for 2 hours before it moved off. Came good in the end though.

OK, update for the week.

Total trades taken 17. 16 winners, 1 loser. Total pips made 355.

If you want to learn price action Forex trading please consider my Forex training course here.

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