Friday, January 27, 2012

New direction

I just sat there and watched market. All sub minute charts were gone. My general intention is not to trade but just observe. Trades that were taken later were the ones that I simply had to take because market showed it's hand. So that's it, do nothing except where it's so obvious that you don't even think should I take that trade or not.
Eur/jpy move got stopped and my trade got stopped. Immediately after eur/usd started strong up movement. Both of those trades could move strong and significant distance. You don't know in advance what will play out. Job is just to follow some reasonable trade management plan.
So from now on I hope for more watching less trading.
+10 pips

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