Archive for June 12th, 2009

And this is what happened….

And this is what happened....

As the annotation goes, I'm glad that I didn't take it.. the markets may well go south but from the initial point of where I thought could have been an entry, it would have been a disaster for a daytrade. The market shoots up to 161.90 before it dwindling around doing not much. A daytrader would be quite nervous at this stage.....

June 12, 2009 No Comments Full Story

Following on from previous GBPJPY and some trading psychology thoughts

Following on from previous GBPJPY and some trading psychology thoughts

The chart shows what happened after I closed. The price action looped ripe for another entry short to ride the market lower but I felt anxious.... I am just not sure what it is but my instinct tells me to be careful... I attribute it to a couple of things, all trading psychology related: The possibility of losing my 47 pips that I have already made.. it's always nice to finish the week a winner! The re-entry looks too obvious a trade... a bear trap perhaps? Maybe I am thinking to

June 12, 2009 No Comments Full Story

47 pips trading the GBPJPY

47 pips trading the GBPJPY

I went short GBPJPY 161.93 just before the market just dropped and managed to get out before it started to rise for 47 pips. I like these sort of movements...  all in less than 10 minutes. I suspect the price action would end lower after this bounce upwards but I don't want to keep any positions open over the weekend.

June 12, 2009 No Comments Full Story