Friday, November 21, 2008

The contrarian

Today I wasn't in really good frame of mind for trading. I early recognized that so I didn't go by my contrarian need. So I didn't short the uptrend, which I really wanted to do, but I put lines where I would short it (purple). Well you can see how would it go. Cyan is place where I would go long. Funny.
I guess that I'm intimidated by strong trends. I don't want to be part of them, but I want to go against them. Don't ask my why, I dont' understand it. I noticed that before so I didn't got myself in difficult position by going short.
In the end I did take part of reversal in eur/jpy. Not very good trade, but I made some profit in it. + 7 full size pips



You probably don't want to go with the trend because you really don't believe it will continue. I get the same feelings all the time, but I follow my rules anyway 99% of the time.

StockHunter said...

Nice job avoiding the losses! I also find it hard to jump into the middle of a strong trend like that. I like to get in after a decent pullback has happend.