My views on future trades, past trades, the market and lessons learnt

Sunday, August 27, 2006

UK GDP and Euro Short. Friday

GDP was scratch

Then I was short the eur (cause of 77) and it started falling fast so I tried to jump on the GBP short to. Never enter after a spike has finished and is about to reverse just because u want to be in the market thats just dumb. Also I didnt have a preplanned exit cause I thought it was going down.

Then problem: got stopped out and then re-enterd got stop and re-entered again etc.. so next time wait for the 15 min candle to close then re-enter on that candle if it looks good and if u miss the re-entry well walk away tomorows a new day who cares take the loss grow up
(it did fall 80 pips from top of reversal btw!!)

EUR g out (-15) in (30) e out (-20) in (35) NY e out (-20) in (35) c out (-25) in (40) out (20)

Lesson: Dont chase a trade. Wait for 15 min candle to close and then see see if you can fade it.

0 Comments:

Post a Comment

<< Home

 

Mesothelioma Lawyer