Trade Closed: 2010-11-22 00:22
Bah! I thought EUR/USD was in the midst of a new downtrend, but I was wrong. Apparently, the market took the news of Ireland banks needing a bailout as GOOD news and bought up EUR/USD. How messed up is that?!?
In any case, this trade sets me back 130 pips or 1.0% of my account.
Stopped out at 1.3700: -130 pips / -1.0%
Yes, yes, I know… Losing is part of trading, don’t blame anyone but yourself… Sigh. Can’t help but feel bad though… I guess I’ll just have to lose more to get a hang of trading, right? Hah!
Trade Idea: 2010-11-17 00:38
On the other side of the coin, the dollar has been rocking the pip charts for the past few days since the U.S. began to show good surprises in its economic reports and the Republican Party began taking digs at the U.S. Fed’s quantitative easing decision.
Now, if price goes my way, I will take half my position off at former lows and put a trailing stop on the other half of my position. By doing this, I am able to lock in profits and make sure that I catch the big wave!
I hope this round of euro-selling hasn’t lost steam yet! Wish me luck on this one!