TraderGav.com

Gav's trading blog - Perseverance, Consistency, Confidence

Kinda frustrated.....

by Gav

I bagged some 60 pips profit from short EUR/JPY, and watching Short GBP/JPY reached 96 pips profit (target was 100 pips). I ended, losing 20 pips in GBP/JPY short position, and went long. And ...I got stopped out by the wild 20 pips spread ! This is a shitty situation. I am fine with the vanished 96 pips paper profit, since I was targeting 100 pips, but, I just can't accept my long position got killed by the spread.

Well, that's the fact that I have to accept since I am trading with bucket shop.

On the bright side, GBPUSD hit 2.0, and I am holding long position. Let's see if I can end the day with some good pips.

Comments

Historical comments are preserved here. New comments are closed.

  1. Lord Tedders
    One word - EFX
  2. Lord Tedders
    One word - EFX
  3. Gav
    I hear you!
  4. Gav
    I hear you!
  5. Caravaggio
    Hi Trader Gav, I thought I'd pop in and see how your FX trading was faring. The game is very hit and miss these days, and volatility seems to have picked up a bit recently. Nevertheless, it looks like today will be good for you, despite the 20pip spread ... this is a joke. I never really thought about before because it didn't affect my trading, but widening the spread to these levels makes the platform (guessing it's still Oanda) untenable for a large portion of traders. Myself, I am just happy to have participated in the great event of cable going through 2.00, in my own small way. What a day. all the best. ps - I exited the trade at 2.0060.
  6. Caravaggio
    Hi Trader Gav, I thought I'd pop in and see how your FX trading was faring. The game is very hit and miss these days, and volatility seems to have picked up a bit recently. Nevertheless, it looks like today will be good for you, despite the 20pip spread ... this is a joke. I never really thought about before because it didn't affect my trading, but widening the spread to these levels makes the platform (guessing it's still Oanda) untenable for a large portion of traders. Myself, I am just happy to have participated in the great event of cable going through 2.00, in my own small way. What a day. all the best. ps - I exited the trade at 2.0060.
  7. Gav
    Hi Caravaggio, thanks for popping in again. Yeah, I did grab some pips from cable. However, I was kinda disappointed. I was on very nice paper profit. Well... I certainly agree with you it is a very hit and miss game now. In fact, I am learning a lot today. I am not a news trader, but It was just coincidentally my buy order was triggered during CPI released, and i got killed. Anyway, I do not expect the first month of FX trading to be very much profitable. As I am still fine tuning my execution skills, system, platform problems etc here and there. Hopefully, I will have a better performance starts from 2nd month.
  8. Gav
    Hi Caravaggio, thanks for popping in again. Yeah, I did grab some pips from cable. However, I was kinda disappointed. I was on very nice paper profit. Well... I certainly agree with you it is a very hit and miss game now. In fact, I am learning a lot today. I am not a news trader, but It was just coincidentally my buy order was triggered during CPI released, and i got killed. Anyway, I do not expect the first month of FX trading to be very much profitable. As I am still fine tuning my execution skills, system, platform problems etc here and there. Hopefully, I will have a better performance starts from 2nd month.
  9. jest1081
    Hi, concurred to what the guys said...20pips spread is crazy. My experience with the poundyen tells me that its one of those pairs that does really good carries. regards, jest
  10. jest1081
    Hi, concurred to what the guys said...20pips spread is crazy. My experience with the poundyen tells me that its one of those pairs that does really good carries. regards, jest
  11. Phileo
    Hi Gav, Where can I find out info on the dates of interest rate announcements for the UK and the EU ?
  12. Phileo
    Hi Gav, Where can I find out info on the dates of interest rate announcements for the UK and the EU ?
  13. Gav
    Phileo, I supposed you are looking for Forex calendar? Here is the one I am using http://www.forexfactory.com/calendar.php
  14. Gav
    Phileo, I supposed you are looking for Forex calendar? Here is the one I am using http://www.forexfactory.com/calendar.php
  15. Phileo
    Wow, that is exactly what I'm looking for! Thanks a million pips !!
  16. Phileo
    Wow, that is exactly what I'm looking for! Thanks a million pips !!
  17. Gav
    Phileo: You're welcome!
  18. Gav
    Phileo: You're welcome!

Recommended FX Charting

Recommended Training

Price Action Course for Professionals