Thursday, February 7, 2008

Plenty of mistakes

After small loss in shorting eur, I picked the bottom but took only about 5 pips from it. It was bottom and market went up 40 or so pips in next two hours. I was aware that it could be the bottom but I needed wins because of my recent loss. It was a mistake.

Than came short in gbp/usd with small positive exit because thing didn't really move. It was ok call.

After gbp/usd news at 10.30 I bought, mistake was that I didn't exit on b/e or so after initial gain but it went to far triggering some -18 stop loss. Now I was mad and quickly reentered and it run my way. I was greedy and put another position on that immediately went against me. That was also big mistake. If I stayed only with one trade it would be ok.
Than I was sweating with two positions, I had a chance to exit with 2x7pips around 10:47, but I stayed, another mistake.
Good thing was that I finally exit those two positions, but with a loss. That put me at -20 for a day after +8 or so.
If it won't go up it will go down, so I shorted. It was relief to be on winning side, I took quick gain after first impulse down just to bring my daily loss down to -13 pips. Gbp/usd didn't stop there it slide down 10-15 pips more, but that's fine I'm happy with what I got.

Than I shorted usd/jpy but no momentum there so I made an exit with small loss. It did make some down move later but it could go up also.Bad call was not to hang on on my eur/usd bottom. Bad scalping was after 10:30 gbp/usd news.

In the end I scalped some eur/jpy bringing total loss for a day to - 5 pips.

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