Monday, October 29, 2012

Day's Anatomy- 29th October 2012

Not a good day behaviour-wise.

The chart explains it all. Those consecutive errors just after midday cost me between 11 and 17 net pips. The long from xx892 could have been held for 4 more pips too. The last trade had to be taken off due to the close. Currently waiting to be filled @ xx901 but already had two chances to get in there.

Not a good day at all.

(Incidentally, Hurricane Sandy seems to have had an effect on Eur/Usd).



scalpy said...

Not too sure on your second trade (-5.9) - multiple lower highs pushing down after a precipitous drop. Would be a bit risky for me, especially considering the distance from the previous low before 10.00. An indecision point with price likely to go down as well as up.

I do like your second trade, though. Quite nice price action, with a higher low after PA fails to reach previous lows. Good potential for a decent gain when PA goes your way. Another possible long when price spikes down just before 16.00 but doesn't reach the previous lows?

Hindsight trading is always 20/20!

Really enjoy your blog. Keep it up!

James Edwards-Marche said...

A comment! lol.

Agreed with your reasoning with regards to the lower highs- that's why the first attempt was better...higher highs and higher lows established along with favourable "pace" within the move down into that missed trade as compared to the prior mini sell-off.

Hopefully, 20/20 hindsight can help us improve our foresight though!

Thanks for following along!!