Thursday, September 27, 2007

Forex trading 09/27/07

Bad trading.

Good thing was that all positions are 1/3 size, but the problem was that I averaged to fast. Loss for whole position was about-25 pips so it's 2R, again bad trading. Good thing that I didn't try to put more than 3 positions, I wanted but there is some discipline in me :)

I think that this position was initiated because I wanted to go long but couldn't because I had a fear, as usual in all attempts to trade with the trend. Those positions against the trend are positions based on inability they are different of successfully reversal trades. Once in the position of that type there is no easy coming out. So it's better to be careful in the first place and closely monitor what is my motivation for initiating trade.

In the end of the position I had luck because eur and chf were losing ground against usd, gbp/usd was moving slowly and than stop. It didn't fall as others in that moment and I knew if I didn't get out now I would again stay in a loss and let it go all the way up. So I missed 10 pips that I could get in next 10 minutes.


Forex Intraday Trading
Forex Intraday Trading

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