Jay's Trading Blog

  Broke out possible 50 pips but dropped and I closed with 99p vs possible £3+  10p per pip using lot size 0.10 on indices

 

SL: 10 pips  TP: 20 pips  Entry on H1  Daily view for context  Stoch in upper 80-50% pointing down  Strong decisive bearish entry candle  Close to 5/10 EMA (dynamic trend line) so place SL just behind  Risk:reward 2:1   

+25 pips @ 0.10 (on indices is 10p per pip)   

  Got in at 22:30 and got out around 6am  Noticed weakening of buyer's bars and formation of bullish bar.  Manually took profit at +17 pips (£3.00 profit)  Peak before the turn around could have seen potentially 30 pips 

 

    Could have potentially made 25-35 pips but TP was higher than this and I wasn't watching over this trade. Price tested lower and triggered my SL even though ended up closing high. 

  Trade sizing / risk management: 0.031 (40 pip SL)  Placed entry price to trigger just above a level of support to confirm continued upwards direction  5 /10 EMA crossed going up  Stoch (14,3,3) lower 20% crossed going up  Bullish entry signal strong buyers bar preceding currently 1HR bar