Tuesday, December 4, 2007

Forex trading 12/04/07

Well today I was trading a lot. I was by the screen 6 hours. I'm not used to so much concentration on trading so last trades are pretty much questionable.

+21 pips all in all

First trade was maybe the best. I shorted gbp/jpy in the downtrend. That's the think that I want to do more often, trade with the trend. I shorted after 40, 50 pips of downtrend, that's the first. And than it bounced back after nice profit because usd/jpy hit resistance at 110. I stayed but took exit soon. Size of all gbp/jpy trades was 1/3. So in that first trade I got +10 pips

Second two gbp/jpy trades were against the trend I took fast exit as usual for +8
Forex trading gbp/jpy short downtrend
Forex trading
Forex trading

Best thing today would be if I just kept my first gbp/jpy short and exit after let's say 100 pips of profit.

Forex trading gbp/jpy short

I had idea that usd/cad will fall again after it bounced from 1.0000 level. But I'm always wrong in usd/cad trades. I averaged down, all positions were 1/3 of the size. Exit for -3 pips
Forex trading usd/cad

From this point on I was in bad shape for trading. Great thing that I didn't lose money.
I made poor judgment about eur/usd exit. All trades were in 2/3 of my regular size. I took +2 pips for the first two combined and +1 for third.
Forex trading eur/usd

In the end some two eur/cad esoteric guess shorts with 1/3 of the size for each of them and +3 pips in total
Forex trading eur/cad

Forex trading

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