Tuesday, December 16, 2008

Small profit

Not so intuitive moves today. I'm glad that I took home some win and not loss. On first trade I was contemplating going long at 50 two minutes before my entry, so when it drop 15 pips and bounced on 10sec I went long. Happy that 30 provided so good support. I didn't want to wait for any reversal and bigger win so took 10 pips asap. The trade maybe shouldn't be put on in the first place.
On second trade price just stopped on 10sec chart and I entered because of momentum. So it didn't look good and I run away from it.
+5 full size pips




3 comments:

ORION MACHINE said...

on the 15-min chart I can see your reasons for going short the first time, however on the second short you were shorting as prices hit a trendline of support. Just my thoughts. nice trading though, you are still doing great on your exits. well done!

FX said...

Hehe, first was long, so it was opposite of your reasons :D
Today market action didn't show usual behavior so I didn't trade it as usual when I look for break out. It was all one big choppy range even if it was headed down. My action were based mainly on 1min - 10sec chart logic. All in all there were not many chances for reasonable trade. There wasn't any strength in movements so I wasn't than looking for logical moves. Best thing is to avoid market like that, and I was. Those trades were just little probes that went nowhere.

ORION MACHINE said...

HAHa, man i guess I just look at your charts and dont pay attention to the arrows huh? :) oh well.

One thing I see all the time is that when price trends in one direction for a good amount, it tends to go sideways until it meets up with the dominant trend line, that is when price begins to move again.