Tuesday, May 19, 2009

Naive trading

I'm happy that I'm positive. I exit my first gbp/usd in a loss seconds to news. Good thing that it run up there because there was possibility of me riding into the news with that trade. Why? Just because it was in a loss. After news, without any big impact gbp/usd start to move slowly up. So this was as I call it for myself naive trade, it means that it look to me so obvious that it can't be like that. It usually is, but I have hard time taking those obvious trades. I took the profit because for some reason it didn't look to me that it will run through 500 at once, and I have a loss to cover from earlier trade and nice profit to book.
Later I was really late in jpy strength all over the board. I was looking at the chart while it moved like 30 pips from the moment I noticed sudden jpy strength. I could wait a little more, but those 9 pips of 1/3 size looked sweet because jpy stopped and I was thinking that this is right time to big jumps and not gentle moves, so I didn't believe it any more.
Gbp/usd trades with 2/3 size, gbp/jpy with 1/3.
+17 full size pips

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