Well not one of our busiest days of trading,  however applying our two winners and done strategy has again proven its value.  There is a real temptation for us as traders to be lured into the excitementof the markets, particularly the Forex.  Many traders are constantly looking for the next big move that will propel the equity in their accounts to even greater highs.  They spend hours trading during poor session times and exposing themselves to fatigue and overtrading fearful of missing the big one!

The reality is that trading requires us to be very selective, and disciplined as to when we choose to trade and for how long.  Opportunities abound these markets on a daily basis and as traders we need to discipline ourself to a well defined trading plan that targets high probability trading sessions based on our systems edge.  Today we managed our two winners in reasonable time and that is part of our focus for these sessions.  More on that later.  I have provided a breakdown of the results this week and look forward to sharing my next post with you and more thoughts on working your trading edge!

Results are net of spread:

 

Monday 2^nd March

 

EURJPY - -29

GBPJPY - +33

EURUSD - -20  

GBPUSD - -35

 

Net results - -51 pips

 

 

Tuesday 3^rd March

 

EURJPY - +25

GBPJPY - +12

EURUSD - -6

GBPUSD - +3

 

Net result - +34 pips

 

Wednesday 4th March 2009

GBPJPY - +30pips

GBPUSD - +6pips

Total +36pips

 

Cheers

 

Shane

Shane@netpicks.com

This entry was posted on Thursday, March 5th, 2009 at 5:56 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.