Tuesday, February 22, 2011

+11 pips Swing trading attempt

First I tried to make a foothold in shorting NZD for swing trade position. Trades were quarter size and max loss was about 15-20 full size pips on combined position. That was later max open profit also.
ECB comments made EUR jump higher, that lifted nzd/usd as well. I closed my position in nzd/usd before stops kicked in to release funds for trading eur/usd. In that trade I made very bad exit just before things started to turn back up.
In summary I did what I wanted, I was holding trades for bigger gains because situation dictated it. My only regret is that I didn't close second trade entered with limit order in nzd/usd early. When it didn't work immediately and it was break out trade there was no point in holding it.
+12 quarter size pips in nzd/usd and +16 half size pips in eur/usd.

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