Tuesday, March 17, 2009

Nice little trade

Morning was quiet and with random action. At 11:00 there was EU news. It was positive above expectation, interesting gbp was reacting even better to it with eur/gbp falling. After nice retracement it started to go up again and I entered with 1/3 size. I wasn't willing to risk on gbp/usd with 3 pips spread and funny action much. I rode it while it lasted. +8 full size pips



Hey FX nice trade, way to hold it! I grabbed a nice little 1.4% this morning as price in the EUR was breaking down a bit.

I was just wondering, since you have the ability to enter a "Less than full size position" doesn't that take away your protection from averaging in?

FX said...

Well yes I said yesterday that I got to be careful with that, because it's danger in that situation. Somehow I don't have that urge because I'm counting three pips as one in those kind of plays. Also I believe that averaging was problem because I couldn't afford to lose (in my mind) to stay on course of some reasonable monthly goal. Now with low pip goal and bigger size I feel like I'm playing totally different game.