I gave the cricket a miss last night as I was flying to Zurich at 0600, landing at 0740 UK time in Switzerland. Hence a trade of two halves. The first one was the missed entry at 0600. I was of course on the Swiss Airbus A321 from terminal 2 LHR. I’d checked my charts at 0530 and could see a trade looming but didn’t know if it would develop as a long or short.
Thus I spent the next 100 minutes snoozing and wondering what the outcome would be. Impeccably on time, we landed bang on 0740 and by 0758 I was sitting down with my laptop open in the arrivals area. Superb airport incidentally, but crazily expensive coffee and croissant. Nice but trust me, I resisted a second one for financial reasons.
I digress however ….. so I open the trusty laptop, connect to wifi and what an interesting scene. I missed a long at point (1) on the chart, but the trade had retraced a little and a fresh, full £20 position was indicated.
My trading rules meant it was a good take, so that’s what I did. Our proprietary (and massively effective) EnigmaStop trailing stop was set. Off I trundled on a 90-minute journey to my hotel and after check-in I checked the trade to see it has checked out at 10:02 on a pullback that hit my stop.
In at 1.1952 and out at 1.978 for a 26 point winner and £520 banked. In Zurich, that just about covers a lunchtime snack and a glass of wine, so I celebrated by drinking the complimentary water in my hotel room.
PS. I’ve had a couple of emails asking why the trade was still valid at point (2) and would the trade at point (1) have been stopped out? The answers are painfully simple. The trade is still valid because the trade at point (1) would not have been stopped and the rules call for a full entry if you are not already long. But more of that in the trading room ……