Thursday, March 26, 2009

Chewed up

Day started long on possible b/o up. After first at b/e I opened another one. It was the case when b/o can be any moment but market is slowly drifting lower. It's not for short and I don't want to abandon position and be sorry later. I averaged on it when it bounced over at eur/jpy!!! Well I really had the plan to cover if that wasn't the low, but it's not good to start with that averaging thing again. On this one and all other positions I gave plenty of room to market to go in my direction. It wasn't working. Again move up started and I add to position, b/e.
I was pretty much frustrated but things just were not moving.
Than I catch nice short on gbp/usd. Again I add to position but it came back so I exit them both. That was really high probability opportunity that it will break down nicely but it didn't this time. I was at b/e for the day. Then news came for gbp and it started to fall heavily. I entered short when spread came back from 20 to 7. It was just first minute and I wanted to catch the move. It was exact bottom. With 7 pips spread on I couldn't get out at -20, but I didn't expect that it will came all the way up without the test and second leg down. At least I was lucky with a pull back. I was deep in red around 60 half size pips on highest point. I had some scalps in gbp/usd. Again I was giving room to go more.
Finally I had mistaken trade in eur/usd. Instead of long I pushed short??!! I got out at b/e from it. While I was writing I had brave long that was haunting me from 8:30 in the morning. You can see that on 5min chart. 620 held at that time so I didn't want to push it, like I was pushing whole day today. That last trade put me in positive of +3 full size pips for a day.

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