Longer term trades


First trade short of aud/usd after negative fundamental news. It's not ideal to open such trade pretty much late. I gave it big stop of 77 pips. Target was the same.  Three open trades were just because I was experimenting with sizing in relationship to stop. First stop was 100 pips, when I changed stop I took bigger size for a trade. Yellow mark is average.
That trade didn't really work from the start. I had nice push after being first in negative but then it reversed. I'm thinking that on such trades that from start don't really go in my direction I should take profit if later given in size that was previous negative move. But it's all fluid, I really don't know is that optimal. I didn't touch this trade, or reevaluate it. I just left it to do whatever. Maybe some trade management would be better to exit with smaller loss then full R.
-1R


Entry short immediately after the news, move before the trade was instant. Support held and it moved slowly toward the stop. I wouldn't do much different in this trade. I think that probability was more for down side. Stop and target were 100 pips. Maybe stop should have been lower because if it goes back to 160 resistance it's hardly weak. Maybe in this case stop of 70 and target 70-100.
-1R



Third trade short in eur/gbp.This trade was opened around the same time as previous short in gbp/usd. I didn't believe that previous down break in eur/gbp will so easily fail on gbp weakens. So I shorted with idea that it's now top of the range. It worked that way. When I checked that trade next day I found it not taking my take profit for just one pip, so I closed.
+0.9R



Fourth trade short eur/usd after Spain downgrade. I was early in the move. Two trades because I found out that I don't need 100 pips stop to invalidate my idea of down side. So I doubled the position because I only needed 50 pips R. At first I set up things that one take profit is at 1R and second at 2R. Later after move went in my direction I moved my stop down and widen the take profit. So for first trade it was at 3155 and move only went to 3160. It moved exactly 1R. After it rushed bit by bit back up (I was by the screen scalping) I was mad because of my greed. If I had 1R target all would be peachy. I didn't believe that it was full reversal, I expected some resistance at some point.
Basically it's very hard for me to decide what to do with the trade in between my stop and target. On smaller time frames it's different story from minute to minute and I can't judge clearly.
-0.75R
 
So those were my longer time trades. I don't know will I continue with it. This is only testing and treading water. It's interesting but I feel little bit new and clueless.




1 comments:

Blogger said...

Did you know you can create short urls with BCVC and get money for every click on your short links.

Post a Comment