Monday, June 9, 2008

Back to scalping

This are my small scalping profits of +8 full size pips for today. I'm going to be happy with them and quit trading for today. I got to build my confidence with my usual scalps. I don't know why I ever try to do something else.

I was looking to go long my first trade but I was watching other pairs and they where also just ready for b/o but than backed away. So I shorted instead, eur/usd didn't have in mind going down so I took small loss and immediately reversed. I took too quick exit but that's probably to cover just made loss. Than I was scalping some more based on movements on 10sec chart and other pairs.



Great job man! I like those charts! I had aggravating morning. Made 18.6 pips, but that was 12 trades and 5 of them break even. I was slapping myself because every time I took profit, it was too soon and EUR fell like a rock, then as I tried to hold for more profits, momentum was dried up at some points and got stopped at break even.

Amazingly I also bracketed the news and the spread NEVER changed! I was up 20 pips instantly, set it at break even and got stopped. That pissed me off!!! Good trading tomorrow FX!

FX said...

You are now trading more than before and getting more profits, that's good. I bet that 20 pips gift taken away was the worst thing.


God yes, It really pisses me off you have that happen, but its part of the game plan... I think I might only do that when I am properly positioned in a news move, since those seem to keep momentum for awhile more than non news price action.