Wednesday, October 28, 2009

Today's trades

First trade in eur/usd didn't look good after entry. Eur/gbp started going up and I wanted it to accelerate down to give boost for eur/usd short side. So I was quickly out and that was correct decision.

Lately I don't like to trade eur/usd so much because it moves back and forth and it's hard to get clear scalp. You need to get in before move starts because if you go after initial thrust, it stop and go back giving you a loss. Maybe it suitable for daytrading off 1min and 5min charts, but I don't find it attractive for scalping.
Gbp/usd moves clear and smooth. With Oanda's 1.8 pips spread on it, it's great for scalping. When I started trading at Oanda I think that eur/usd spread was 1.8 pips and now it's 0.9 all the time and 1.8 on gbp/usd most of time.

Trade in gbp/usd started tricky. From my entry for next four minutes market didn't move and gbp/jpy at that time drop 30 pips. Usually when Jen is rising and usd/jpy, eur/jpy and gbp/jpy go down gbp/usd go down as well. Maybe not much, depending on it's situation but rarely it just sit still. So it was possible that gbp/usd spike up if gbp/jpy first make bounce. On the contrary, usd/jpy stop falling and then gbp/usd made it's move down. I was out when gbp/usd ticked up at the level of trendline and previous wicks on 15min chart. Too bad that I was groggy after concentrating on the trade and didn't notice 30 sec later continuation of the move.
I had one more short scalp in the end.

+16 pips

No comments: