Thursday, October 29, 2009

So-so trading

In the start I was overheated from my trading lately so I went in without clear break out of the range. Then I didn't get out on the time, I even moved stop on that first trade. Wanted to move it again farther but stop caught me before. So I wasn't really in the game with right mind set.
I cut loss in half with next trade.
Third trade was very long in duration and market moved nowhere. Then I was shaken out right before move up. Good that I was eager to trade because in fourth trade I covered my loss so far and made seven pips.
Fifth was a scratch and sixth drove me back in a loss for a day. I had cushion of seven pips and eur/gbp was ready to break out to new low. When it did, but stopped without extending I had to get out. That is a catch. Sometimes it fly when level is broken and you can get nice profit in less then a minute. This time it didn't and I luckily saved all of the pips from that move.

+15 pips

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