Wednesday, April 4, 2007

First week of April

I'm not in trading mood lately, but I had some trades mostly scalps just to satisfy my need to have a trade.

But first let me share little frustration about scalp trades that go away in positive direction. When I see that I got to ask myself wouldn't it be wise to devote some energy and try to capitalise on them sometimes, develop some strategy around them and get some 100+ pips profits.
This is some "false b/o" scalp try that didn't give immediate results. +1 pip.

I'm thinking that maybe regular size of 5X leverage is to big for some trades and that I hesitate much and skip a lot of trades because of it. So here I tried to go in with half of position but I add other half quickly.
Idea was that resistance from the day before will kick in at about 740. Fall stopped at 750 and on test I entered.
For long time there was no action, and for me to stay in is positive because I didn't get scared which I usually do. I was thinking this trade will have some closure and my intention is to see what will it be. So I didn't mind if trade is a loser because the goal for me in this trade was to see how will it end and not to have a gain versus a loss.
It popped up in the end and I gave it a room, but I had to go away from the screen and 5 minutes was enough for this trade to go up if it wanted. +5 pips.

This is a sweet spot trade for me shorting strong uptrend on it's exhaustion highs. I just came home and was in a mood to trade. Not a very good reason to trade, nor a trade to make. +2+2= +4 pips.

No comments: