Thursday, August 25, 2011

Two part session

I missed initial morning run up and movements slowed down. Trading in range didn't gave good results because I was hoping for continuation of the move up. After some time I quit trading with small loss of around eight pips for a day.
My charts were open and sudden sell of started. I really didn't have any idea what was going on. After my entry I realized that Oanda widened spread from 1.2 to 5 pips but market continued down and spread came to normal. I was thinking that maybe this is start of some major thing but selling dried off. Some more classic scalping for another push down and it all gave nice profit for a day.

Later I read at 4CAST News: "A US investment house has been a good seller of EUR/USD in the last hour or so, taking out Russian and Middle East buying reported first thing."
It's interesting how marked sometimes can be moved fifty pips by one entity selling.

+27 pips


Anonymous said...

Thanks for the blog. Instructional.

PRD trader said...

Hi bro,good to see you doing well.Why don't you go for fixed spread ,since you are a very short term trader.

FX said...

well Oanda can't be beat in spread by any other retail forex broker. At least for small traders. So now and then there is maybe surprise like this but it's rare. So I stay with them.

PRD trader said...

Ok i see,if its rare that you can't complain.