Today, I'll get less time to monitor market and test the strategy. Even then, I'll try to do my best to give it a try. Price is now moving around monthly pivot line. Trading in such situation is risky. Even though I'm going to attempt for a developing short entry. Let's see the chart below-
I took the short trade. I had to come out of the trade on the first available opportunity as my trading terminal started to show some delay in obeying order. With the fear of loss around the monthly pivot I got out of the trade with 2 pip. If I could kept the position according to the strategy, I could get >12 pips here. Again a long trade opportunity is being created here immediately after the short one.
I took the long trade here. Price broke the monthly pivot line and approaching towards weekly pivot line. Risky trade but I'm on. It's not that, it's my demo account. I wish to take all the available valid entry with this strategy. But in the risky trades, with short s/l.
I got out of the trade with 13 pips as I had to leave the P/C. But the trade produced about 70 pips with following the strategy.
Now the price is going sideways remaining in between weekly and monthly pivot line. I think, I'll quit for the day. Missing some good pips. My target is now to exit properly with this strategy. Though this is the second post with this strategy, I'm demoing it for almost a month now. I can enter with a valid entry. But the problem remains with exit. Entry is not 100% perfect though.
Missed a good long entry after price movement at a very low range. Missed well deserved 12 pips. Immediately after the long entry a short entry opportunity came and I took the opportunity.
In this short trade I got 20 pips. Good pips. Highest number of pip with this strategy. Now again wait for next entry. Price is moving in between Daily R1 (below) and weekly pivot line (above).
Then Absent mindedly I took another long trade which was not there.... But luckily I got out of that trade with 4 pip profit. And I was so out of my mind that where I intended to go for 0.05 lot.... I placed order with 0.50 lot. As I said earlier, I was lucky. I got $20 profit. If I illustrate more, you'll say I was too lucky.... When I accidentaly placed the order, I immediately understood, what I've done. So I wanted to get out of the trade at BE. But my terminal frozen down. I could do nothing then. I could only got the chance of set TP at 4 pips.. But couldn't set the SL. I was so lucky.. that price went sideway and I was out of the trade with profit.
So total pip gain for today is: 2 + 13 + 20 + 4 = 39
But potential pip gain could be: 16 + 70 + 12 + 30 = 128
1/3 gain. Still I'm happy. See you tomorrow.
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