Friday, May 23, 2008

Range

First trade in eur/usd after the news momentum started and stop just when I got in. I wanted to finish that trade at b/e but after a while it didn't fall so there was possibility of up side. I'm this days to much in swing trade ideas so I decided to let it go if it want. It spiked to b/e.

Second I tried to play range in gbp/chf but it went against me. Later I gave it again chance for bigger profit but I got shaken out.

Finally in gbp/usd I gave up on idea of swing trading and took nice profit.
It would be better if I took scalp on all three of them.
+9 pips




2 comments:

ORION MACHINE said...

it was a very slow day for me FX... Range is the perfect word. I basically had to abandon my normal approach and sell upspikes and buy downspikes. made only about 5 pips total today... Hopefully next week will end all of this volatility! Have a good holiday. -Orion

FX said...

Yes, this month is so slow I'm not used to that. My signals are based on showing of market strength immediately in one direction. Now it's 5 times slower and I just can't read that well. Like first euro trade it took market 5 hours to make 50 pips I wanted that in 30 min or so. Than with this kind of market I go for swing and don't take profits fast, silly me.