Friday, December 5, 2008

Mixed experience

It was a bit hard today, market moved all around and different in different pairs making fake moves. First I got caught on wrong side in spike that looked like beginning of momentum down move. After loss in that I got in opposite direction. Kind of emotional trade because of unexpected sudden loss but I figured that up side momentum that managed to reverse downside probable move will not be gone immediately.
At my third trade I got again caught in momentum spike just when it stopped. Well I was late and I wasn't so concentrated on market. I decided to wait because up move was really strong so if it get going again maybe it could became major up trend. I got out because it wasn't pushing when it should and on other pairs it didn't look promising. So now I was slightly positive for a day.

Trade #4 I wasn't waiting for anything I just grab some profit asap.
At fifth things became very hard. I entered on some little momentum spike down because eur/usd retraced a lot and judging by the chart of eur and gbp things look like down side is open. Gbp/usd didn't retrace at all, it was in range looking to break down. Well eur didn't listen to me. I was letting it go a lot in negative territory on my trade counting on profit from earlier to offset part of the loss. Finally it cracked down. I got out too early but that is understandable after 40 minutes sitting in loss. In the end I'm more than happy to end day positive with +14 full size pips.



HAHA! your funny! "The EUR didn't listen to me" hehe... I think on days like NFP markets are range bound until the details are released. People are waiting for a reason to go long or short. Anyways, doing much better getting out before -20 pips, been doing well these last few days. Just stick with the program buddy :))

FX said...

Well yes, I still don't like to lose and feel terrible when I get first trade bad and loser, but I try not to ruin my day with over sized loss.