Tuesday, May 15, 2018

Best trade Ever!

                Yesterday was one my best trading day. I took a trade at Gold, GBP/JPY, and the EUR/CAD. I have taken a profit of $380 from the Gold at around 9 pm. My trade in GBP/JPY took a small loss. At around 5pm, I took a short trade on EUR/CAD at price level 1.52688 and so far my trade went well. 

Around 8 pm, the market volatility went crazily up and down. I was thinking that this might be a reversal signal (I had experienced these kinds of signals in the past where that I didn't take action which resulted in a big loss!). In order to protect my gain, I had to place a stop loss order just 10 pips below my sell order where the market might reverse. Certainly, my stop loss order got hit and it went all the way up. 

I re-accessed my analysis and check the signal on the daily chart, it showed a clear reversal. I decided to go long. In a few moments, the trade went well. At around 10 pm, the 15 min. chart showed a pin bar that hit a significant level and had me thinking that the previous upside move might be a move by the institution or because of a news. 

So I bought another 5% on the EUR/CAD and after it went to the direction of my trade, I decided to put a stop loss signal just 10 pips above my buy order in order to protect my gain. I was thinking if that stop loss will get hit again then I might go back to my original plan. Checked the charts at 12 pm and my stop loss got hit. I waited half an hour for a clear signal and it clearly it showed that it will go back again to the downside. I went short again and at the moment of writing this blog, my trade is up by 50 pips showing a profit of $126. 

So far, I think that reversal signal on EUR/CAD was my best trade ever up to this date (05/16/18). Even if I didn't  made a big profit like my trade in Gold but I stuck to my plan, was disciplined enough to follow my rules. I'm getting used to this kind of good trading discipline and it felt good! 

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