Forex Trading Recap: 29 January +85 Pips

Some days everything just lines up and making pips couldn't be easier. Today was definitely one of those days.  Other than a minor blip at mid-Frankfurt where an aggressive reversal trade didn't pan out, everything was clean and easily tradeable.  If only every day were like that!

A key aspect to good trading is making sure that you maximize profits as much as possible when price is moving well.  We had a couple excellent moves today and no doubt many novice traders would have panicked early and then were kicking themselves as they saw another 10 or 20 pips available on the board.  You need to have a tested trade management plan you feel comfortable with that allows you to stay in these moves and hold with confidence.

Today I followed my trade management strategy perfectly on every trade and it really paid off.  It got me out of the trades fairly near the edge when price refused to follow through but even better it practically forced me to hold on to the runners for excellent pips.  Hopefully the rest of the week keeps the quality market action going!


Mike said...

very nice, thank you for the recap!

The Samurai Trader said...

Thanks, Mike. I'm glad you found it useful!

Post a Comment