Friday, January 9, 2009

Bear's winter sleep is finally over

I had idea that was pure imagination but you got to start somewhere. When NFP didn't came as bad as expected and European currencies didn't break on new highs I expected that now we will see a reversal of longer term EU and UK strength last days. It was just from thin air so I didn't want to risk on that and get myself in trouble. So leverage on position was none, 1:1. This month my leverage for full size position is 10x, so this was ten times smaller trade. I figured if I lose 100 pips it's like ten and I can except that.
Well it started to go my way. But, I expected that gbp/usd will melt down so I was trading it and not eur/usd. My second idea was that eur/gbp will bounce again and go higher, reverse it's downtrend. It didn't play that way.
As you can see, I had clumsy first add-on on worst possible place. Well it's a little bit new for me to add on after 80 pips lol.
In the end I exit all three of them when eur/gbp didn't bounce strongly and things were enough extended that anything could happened. Well I was holding my fingers crossed for gbp/usd to lose 500 pips but it didn't, so half success. If I had those trades at exact time's in eur/usd I would get 50 pips more. Anyway, 108+27+10 for 14 full size pips.


4x For Life said...

I was wondering where the hell you were. Hope your holidays were good.

FX said...

It was eat a lot, sleep a lot kind of holidays. Market didn't interest me at all. Now I'm slowly starting an engine.


Could not have said it better FX. We just got back last night from New Jersey. Funeral... Markets did not interest me in any way. I will maybe demo a bit to get back into the swing. Missed all you guys ;)

StockHunter said...

glad to see somebody making money. hope you had a nice holiday!

FX said...

Hi guys, glad to see you all. I still feel little rusty and uninterested for trading.