Tuesday, October 14, 2008

Closed for -15 points, P&L updated.

I need to step away for a bit...I really want to trade and prove myself on this new account but with the crap going on in the markets these days, it's not my time to trade.   I'm not used to these crazy moves, non-trending, etc. and I need to stay out...and get off these damn 15 & 60 minute charts.  

Ughh...

Also, a huge mistake that I've made over the last couple of weeks was trading full 5k lots instead of (5) 1k lots, so that I could at least scale out of half of position when in profit.  Several times have I been 50-100+ points and simply moved stops to breakeven, instead of taking half profit and then moving stops.  Lesson learned.

Good night :)

Long GBP/USD @ 1.744

Closed the GBP/USD short early for -37 points. 

Profit/Loss has been updated.

Short GBP/USD @ 1.7392

Closed below 174, looking for some continued movement downward.
Stopped out for -15 points on 5k lot...I'll keep watching this and see what the pair wants to do. It looked like we may have had some direction there but I guess not yet...
Stops moved down close...waiting to move to B/E.

Short USD/JPY @ 101.95

Hourly close below 102, looking for further downside. Stop above 102.42 spike.

USD/JPY

Keeping an eye on this pair for a possible short...trying to get a confirmation hourly close below 102.