ForexSpirit

The dramatic slow down in my blog posting is a sure sign that the summer is here (for those of us in the northern hemisphere anyway).

I’ve been keeping busy none the less. Having a big cheesy grin plastered all over my face watching P-51 Mustangs mock strafe a German recon aircraft while at the WWII weekend in Reading, PA. Sitting in a paddle pool getting splashed by my two year old daughter. Having to make numerous trips to the hardware store to acquire all the necessary tools so that I could successfully change the blade on my lawn mower. Actually cutting the lawn. Although now I just really want an Automower.

Even with all that and more going on I’ve still been tinkering away at trading.

I’m still back to the longer term trading time frames. I got queasy not having a more defined stop loss procedure in place, so I’ve shifted more towards the Jacko style once again.

Since the start of June I’ve stuck with a 100 pip stop loss that trails price action. So far this month I’ve been pretty stop on when it comes to deciding in which direction to trade. This shows that I’m at least able to read the bigger picture successfully.

Unfortunately, the market has been volatile enough in the past two weeks to throw me out of trades that would have been wildly successful. In three instances I’ve been stopped out by 10-15 pips before the market shot off without me.

I’ve been around long enough now to know that this is just the way things go sometimes. The market or my broker wasn’t out to get me.

I take solace in my ability to read the market direction, while I simultaneously grit my teeth, grimace and shake my fist at the market’s tenacity when it comes to shaking me out of my positions.

Trailing stop loss exits are denoted on Oanda charts by a pink circle. It shouldn’t take too much investigation to figure out which three trades I’m talking about in this chart: