Thursday, April 21, 2011

Day 32. +4.9. Back in the game

Back to trading. Last night I felt compelled to get some sleep to trade in the morning. Of course I'm still dealing with the feelings of the breakup since it was just Saturday, but my head feels clear to trade and my emotions are in check. Fo shizzle my nizzle. I was excited to start trading and ended up waking up at 3am and couldn't get back to sleep. So started my trading earlier than usual.

First trade was late and completely my fault. I made a gain of 2.3 pips but it would have been at least another pip or two if I got in on time. I had put in a pending sell but canceled it soon after thinking that I could get a better entry with market. I have specific places I like to enter but those places depend on what price is doing. Most times I know where that place will be and can put in a pending at certain price. But other times, I can't tell yet the exact price though I do know very close to where it should be. This was one of those times. So I felt I could better control it with a Market order. However, no matter how fast you are you'll never get as good a price with a Market as with a Stop. So lesson learned, no more markets. Get in on time or don't get in. No late entries.

Price then ranged for a while but seemed like it wanted to go down so put in a pending sell. I strongly felt it was going down so left the pending for much longer than I usually do. Around 4:48 price made a run for the border, was promptly caught by the border patrol and thrown back in to Mexico. At this point it seemed that price was determined to make it across, which didn't make too much sense based on it's previous behavior but I went with it and realized I was wrong as it strongly moved downward. So I put my pending sell back in and it hit. Price then moved really strange. First time I've seen it act like this. Hard to describe but it I was like it had no idea what it wanted to do. I felt it would go down so I held a bit and it stalled. I though about holding longer for the pop but seeing as how price was acting so weird I just got out with a couple pips profit.

Anyway, good to be back, again. hah. Looking forward to tomorrow and beyond!

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