Wednesday, January 9, 2008

Averaging is such a bad habit

For everything today -1 pip

I shouldn't trade trades where I have some kind of concept how things will develop. I had that today in eur/jpy and I slowly dig myself deep in that pair. I had luck with averaging, but it's only luck. It's some kind of swing trading thinking, but I enter with too big size for swing trading and too close stops.
All other trades were based on market action, and I'm happy with them winners or losers. I can easily see moments when to get in the market and if things start moving opposite way or slowing down get out. Some of this trades I can let run for more profits.

+5 gbp/usd
forex intraday trading gbp/usd
0, +7 eur/usd
forex intraday trading eur/usd
0 usd/chf
forex intraday trading usd/chf
-18, -5, +9 eur/jpy
forex intraday trading eur/jpy
+1 usd/jpy
forex intraday trading usd/jpy
forex intraday trading

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