trades 010207

First trade was a try to get some early entry in possible eur/usd retracement of previous day range.


Unfortunately this was a loss and sad thing was that I tried to prevent it by moving s/l for few pips. It got hit and there is no rational to make it bigger s/l because it was risky early entry and if it didn't work with small s/l it wouldn't with bigger one as well. It was a bet that breakdown is happening right now.
Loss is about 10 pips. Leverage 5X. Same L. in other trades that day.


I made next trade in gbp/usd betting on range tendency, it didn't act well so I got out early with 11 pips profit.


Later in the day I thought that it will be choppy range movements so after b/o my guess was that price will get back in the range maybe accelerating after failed b/o 660-680.


It stalled and for me it looked kind of toppy because 20 pips after b/o is to small to stall so much so I waited.


Maybe not so smart move was to average down one more position. But it was begging me that it was so nice opportunity and that it's not kind of movement that gbp/usd make when trending usually. After 40 minutes it was just 10 pips up so I persuaded myself to enter again. Move that usually cost me too much.


This time risk got it's reward. I exited it pretty fast because after quick down move it stalled. I waited a little and gave some of the move back. Other crosses didn't show strength for usd, but pretty much weakness so I decided to close trades with profits +7 and +15 pips.


It's easy to draw trendlines later, but in trade there is tunnel vision so it always look so easy later after the fact.