Tuesday, October 28, 2008

Trades today

First long I entered because I saw bullish action on 10 sec pushing higher and consolidating before the run up. It didn't happen, I had one more long with very close stop in a case that I was just shaken out.
Gbp short I entered because of that 50 pips drop in 3 minutes, that idea also didn't work.

Bright spot were stops. Pure trading with defined stops. It's hard market to trade especially when it's in rangy mood. It's not so brilliant to learn disciplined trading in such mess of market movements. I don't have an edge and that's why I don't trade this days, today I tried and got burned.

-45 pips


1 comment:

ORION MACHINE said...

I thought you liked rangy stuff because you have difficulty trading with a trend?!?! Let me tell you something, the only time its easy to trade with discipline (when you are trying to build it up) is when you are getting lucky and being right a lot. And its only easy then, because you don't have to commit to stops when you are winning. Its always hard to be disciplined when you are losing.

deciding not to trade is exercising discipline as well. ;)