Thursday, April 10, 2008

Scalping forex

I was scalping today. It's breaking out historical levels and I'm not comfortable to trade that market. I just don't like it. But I always like to scalp. First trade in usd/jpy was loss and I should go out immediately when it turned on me, but I didn't. So on next trade I was firstly recovering that loss.
Than I went in eur/usd and usd/jpy with 1/2 positions. In and out when you got gain, no thinking.
I think that now three days in a row I lose on first trade and than recover on second and get out while it go more in my direction after my exit.

Before on market like this I would usually fight the trend and go against eur/usd which is breaking historical highs. Now I don't feel good with going with the trend but at least I don't fight it but scalp a little.

+9 pips

Reversal sure thing?! I got burned many times calling that a reversal.

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