Loose trading



Today I on purpose decided to trade a little bit loose. Last days price action on small time frame just gives me false signals. So today instead I bet that first of all eur/usd will brake that consolidation channel to the upside and when I entered that trade with 1/3 size gbp/usd started to look interesting also. Maybe I was too big for swing trading with two 1/3 size positions but I stayed with that now when I started. Action on gbp/usd looked really promising between 10-11h. Bad thing with my strategy was that I entered at the highs like I'm in break out trades. After 11h gbp gave me headache but I didn't want to exit and was thinking that usually lately good price levels don't last, so somebody will pick it up. I averaged there.
Later when things finally went my way at least at gbp/usd I exit it because I was generally wrong today, at least for now. Eur/usd didn't break to the upside and now that up action isn't really strong so I took +14 full size pips. At worst point I was around -25 fs pips.





 

© 2010 Learning Trade Forex All Rights Reserved Thesis WordPress Theme Converted into Blogger Template by Hack Tutors.info