Wednesday, January 30, 2008

Why did I exit my first trade?

Something was fishy and to me looked like there will be brake. I entered gbp/usd long and exit after +3 pips. Well I hate when I don't want to wait and risk that tiny profit however tiny it is. Maybe it's because I know that sometimes after some profit if trade goes back I would not exit it on b/e or some reasonable stop.

Than few minutes later brake came but in eur/usd and especially usd/chf. It was pretty much unusual that gbp/usd won't follow even from a sympathy. So I thought maybe 920 level is really hard and that mean only down action. From that idea came my second trade for +6 pips.

But all in all everything is range like so I'm happy with the scalp trade. I got to have some broader move idea to initiate the scalp. I exit it fast, and it's ok. It's better to get used to that than break my head with why I don't stay in trends.

forex intraday trading scalp gbp/usd
forex intraday trading scalp
forex intraday trading scalp

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