Monday is mostly like this. Slow and steady but now at the time of blogging we are approaching London close but i see no follow through till now. Most of the pairs were in Range at the starting of NY open. So probably i’ll close with the few pips i earned today. Only taken two trades before the market opened with eurusd and cadjpy. Both winners but with small profit. Happy that at least it is not a loss.
As you can see from the pic, this trade is still running and my target is high up at 1.1300. If that happens i would earn +55 pips. Not bad with just 8 pips stop loss. 15 minute chart strategy is the best. You gain some pips and off you go, no need to think for rest of the day. For this trade, i’m in doubt whether it would get some pace but i have protected my trade with +20. So no matter what happens i would still chip away with few pips in the bank. You may say these pips are so low but you know, i take many trades on a regular day. These trades adds up. 4 or 5 trades of these size you would easily earn 100 pips which is really really good.
Day trading is really fun. You don’t need any fancy indicators on your mt4 chart.
25th April , 2016