fbpx

0044 (0)1252 265088
Sam@ezeetrader.com

Charlie makes $1500 today – Friday’s live trading…

Charlie takes a trade very early this morning that has a good run….

Transcript

Hi, This is Charlie.

It’s 6:40am, I’ve got to take Rachel to the clinic today, she’s having a minor procedure on her back so we will be leaving at 7am. I will be back by about 9am.

So I wanted to have a look at the markets before leaving.

We had some big moves up on the EUR-USD yesterday, this is the five minute chart.

What I was looking for overnight was to see if the Euro pulled back a little bit or consolidated. What we can see is that that has actually happened, this is the hourly chart.

So I was laying there last night thinking, okay what am I going to do tomorrow morning, because I may not be around much? If we get a pull back, I was actually laying there thinking if I can get in and put something like a 30 pip stop against a trade then I’ll put a couple of units in and see how that goes.

I can do exactly that now. So this is an interesting one because we’ve got a daily pivot untested below us. We’ve got some negative momentum on the hourly charts but the trend overall is up.

So I’m going to give it a go. I can’t be precise so I’m going to put a few in at 50,000. I’ll put two lots in in total, and I’ll just put a stop down here somewhere and see if this is going to hold. It may roll all the way over and come down to its daily pivot which is down at 1.0777.

So I’ve put three units in, which has totalled one and a half lots. So in fact I could leave it at that, one and a half lots would be enough.

Sometimes you just downsize a little bit and put a slightly smaller position in, because what I’ll do is just leave it for the day really and see if it can creep its way up. That will be pretty much my plan, to see if we can get to 1.09 basically.

Even at one and a half lots that would be enough.

Let me just press pause.

 

I’ve not been precise at all, I’ve just put those in. Let me just bring up the accounts. These are the tree positions I’ve just put in there.

I’ve really had to just put them in straight away because I’ve got to get going.

One thing to mention is that we did the culmination of the two year trading challenge. We did the webinars just yesterday and Wednesday, so thanks to everybody for attending.

If you missed it, and you signed up for it, then you should receive an email with the recorded webinar on it. Definitely watch it, there’s a huge amount in there. I wouldn’t scroll through because there’s so much information as I’m going through the presentations.

It’s been a great two year project. What I’m about to do is I’m about to take this two year project on. We’ve asked the people who’ve attended on both nights what you’d like me to do. It seems like the overwhelming response is that you’d like me to do two things. One is to carry on trading speculatively for capital growth, the other one was to trade less speculatively for income generation, so people can see the difference.

A lot of people have said that they would like to see me trading that account for an income. I’m not going to take an income out physically, I’ll just leave it, but just to trade in that sort of way.

So we’re going to send a poll out over the coming days I should think, and you can answer that as well.

There was an offer, if you want to join us, we’d love you to join our community because we want you to be able to do the sorts of things that we do, so there was an offer there as well. I urge you to have a look at that as well because it’s a great offer and it only lasts about five days.

Right, at the moment I need to get on so I’m going to press pause and I’ll be back in an hour/hour and a half.

 

Right, just back. It’s 8:15am and as we can see, the Euro has had quite a run. I’m still in it, like I said, I was looking for about 1.09.

We’re just below it. 1.0904 is the daily 50, that’s what I was looking for as a target.

We’re going to hold on to this trade. We’ll just bring up the account to see how we’re doing with these positions.

It’s running alright, we’re going to hold on and see if we can get up to that level. Obviously the nice thing is that I can move my stops up to breakeven.

We’ll just see now, if it was to roll all the way over then I’ll get stopped out but it won’t cost me anything.

If you’ve got targets then I always think you’ve got to try and hold on for it. It’s possible that we could pull all the way back down to about 1.0840 and still then come back up again, but we’ve got to hold on to it.

I shall press pause for now and we’ll see how this goes…

 

Just back, I’m trying to get myself ready and stuff and the market has just moved.

I am going to take a position off as we’re getting close here. We’re just below my target levels at the big round number.

I’ve taken one unit off just ahead of 1.09, sometimes you can get close to the round number and then just stop. It’s just hit the daily R1 pivot and it’s diverging. Because we’re diverging up there I’ve taken one unit off and we’ll see how we go with the rest.

I’ll press pause.

 

Just back, it’s just coming up to 11am. I’ve been out down the gym.

I had that limit order in on the second amount to get me out at 1.0899 and it got me, so that was quite handy. Let me bring up the account. We can see the Euro is coming back a bit now.

Here’s the three entries this morning, coming out on the first one at 90.9 on that first one earlier, and that limit order at 99. I was at the gym and I saw the price go to that level and I though, I wonder if I’ve been field or not? We’re now currently back down at 58.

Whatever happened I’ve banked $1500 so far today.

I was wondering whether to hold on to this or whether to dump it. We have hit the daily 50 on Esignal. It’s not surprising, we’ve hit 1.09 and we’re backing off, hence why I wanted to sell one out.

Maybe with the benefit of hindsight, 1.09 was my target, we hit that so why didn’t I come out fully? I was thinking it might run to 1.0910/1.0920 actually and just blast a little bit through it, but it hasn’t and it’s backed off.

I’m just going to hold on to this remainder now. I’ll move my stop up to 30 and we’ll just see.

So whatever happens, it’s not been a bad morning.

I shall leave that with you and we’ll see what happens with that AUD trade as well, but that doesn’t really matter because that stops at breakeven as well.

Have a fabulous weekend and we’ll be back in touch next week.

2 Comments

  1. Al-Reply
    April 25, 2015 at 7:58 pm

    Hi Charlie,

    Great video during the week, missed the first half hour or so of it so would love if you were able to post it up at some stage! In relation to this video and like many other videos of yours, I notice when you set a stop, you eventually bring it up to breakeven when trade is well in your favour. I rarely see you bring the stop up(or down) too agressively or even a little bit to lock in a profit.

    I know you might only bring it to breakeven to give the price enough room to move but are you more of the opinion of just letting trades run than trying to guarantee some sort of profit with the point of only bringing them to b/e so ensure it is a risk free trade?

    Thanks as always,
    Al.

    • Charlie Burton-Reply
      April 26, 2015 at 9:31 am

      Hi al. If you had been signed up to the webinar you should have received the recording so just email Sam and she will get it to you.

      With regard to stops. Yes I like to give a trade room to breath if I have a strong conviction of where I think it wants to go. But if I’m trading a fast news announcement I am more likely to be more aggressive in move up stops. But most of the time I need to give it time so that I can get the appropriate risk to reward out if the trade. Apologies for any typos I’m doing this on my phone….

Leave A Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.