Long expected documentary about Chicago floor traders from director James Allen Smith is available online. You can watch it online in eight episodes.

I had bias this morning, again that it can't go lower so easily. It did surprise me that 1.2500 level on eur/usd was breached. Luckily gbp/usd was more stable then eur/usd so it defended 540 support and based there.

I want to mention one flaw that I noticed in my approach today. I was adding new positions on marginally lower prices. I don't get much leverage from trades averaged that way in a sense that it doesn't give me better price. So basically I'm just getting my position and my risk bigger. I have a feel where to average so I do it on those places but in this flat range after I add second position it would be much wiser to take it of when it has scalp profit. I marked 1. and 2. on chart where I could close second position with some decent profit. Also 3. for third position.
What if at 10:27 when it reversed shortly price made new low? It would be much better at that situation that I have only one position and that I took several profits before. First one can always stay to catch reversal that I'm looking for.


+38 pips


(Trades were half size)

Day started slow and later it turned in big trend down. My buying at the bottom was because I didn't believe there will be no reaction around 2600. On the other hand who am I to stand against the price trend if it's the case of long term trend down continuing right now. So I took profits when I had them.
It wasn't so obvious from the start that move will be this strong. It's holiday in part of EU and price was moving slowly. It was more like some kind of retracement.

+29 pips

It's a good day but I poorly managed my gbp/usd trades. Got shaken out just from one of positions seconds before it jumped up. Then I opened another long 10 pips higher but it was hesitating so I closed it all.
In eur/usd I was trading with half size because I was going against a trend and was ready to average. Later it turned in 50+ pips swing but I'm not that good at holding positions.

Plenty of opportunity for me to get better on profit taking part of trading.

+32 pips

I'm sick of my roller coaster rides of mine p&l. Down 20 pips, down 60 pips, up 60 pips to finish where I started. Or it could be down 120 pips if market changed direction like it did after my last exit. I move like an old lady with riding losses and averaging, market is just flying around. This is so no good. I don't think that reducing size would do much good either, it would be little bit easier but again plenty of averaging to fix things and that means just more risk.
I need to commit to stops before I enter trades and enter only those trades where I'm committed that I will exit humbly when I'm stopped.

My first loss with red dot was there just because I was slow enough in moving stop. I was in process of moving it up when it got hit. Then I reopened, and guess what I doubled size 90 seconds later to get stopped out again. It's just gambling it can't be called trading. Well at least on my last trade with 3X size on I was thinking properly in a sense what is market doing. It was also emotional trade to get back losses and to my amazement I did. Who knows where would I get out of that trade if it went south. Yeah, I forget to mention that on my first trade I had two times 10sec window of opportunity to take 8 and 10 pips. Maybe less then 10 sec, but it was there.
It's ringing in my head that before I would gladly grab that kind of profit just because I have opportunity. Maybe there is more wisdom in that then I trust there is. That's my kind of scalping, looking for more bring me exact problems like today. I'm just too emotional to handle bigger swings in whatever direction. I would like to grab forexbird kind of profits but I'm not prepared for his kind of stops. I can commit to small stops only when I'm looking for small gains. Then I believe that it's not good strategy. Knowing me that got to carry out that trading what is? I don't have on disposal better trader so I need to do things that are limited to my limited capacity. Maybe progress is made to small losses big wins only when you get small loss small wins as your second nature.

+1 pip