Wednesday, May 20, 2009

Nothing is working as I think it will

It's hard to find nice trade that I like, than I stumble who knows how in some trade and stick to it. I shorted gbp pair after news but momentum stalled. Usd/jpy was getting weak also so I figured maybe some jpy strength will come in. I was like forever in that trade mostly in a loss. Finally I got out before other gbp news, but spread never got widen. Later is it began to drop. Positions were 1/3 size.

Eur/jpy was just oposite idea. When it looked to me that there will be no jpy strength I got long eur/jpy around support. Idea was that usd/jpy will bounce back and eur/usd will try again to test high. It wasn't working also, now jpy was getting strong. I averaged because all pairs bounced but it took some time to work. To me it looked like it will not work, but you know me hardest thing in the world is to exit in a loss.
Well eur got strong and fly up. I guess that I took profit when I saw more than 20 pips in the bag. The thing is usd/jpy didn't get stronger so I feared that this will not last in eur/jpy, even if eur was that strong. Now when I write that's exactly what is going on. Eur/usd is strong but eur/jpy is back down. Eur/jpy position sizes were 1/2.

It looks to me that nothing is working as I think it will. I can't find nice scalp trades because pairs are so volatile. I can't complain too much because in the end somehow I finished positive.
+26 full size pips


Jules said...

You're such a pain, FX. Making money consistently and you're complaining. :-)

FX said...

Hihi, and you think that you have difficult personality, look at me :))