I had my first trade in about a week last night. Unfortunately, it was not well timed. I got into a sell trade based on the fact that I really wanted to get into a trade. I really did just manipulate my thinking just to justify getting into this deal. I got in at about 7:15pm last night when I saw the EUR/USD trading near an upper barrier I set. The problem is that the currency was still rising from near the days low. That is a dangerous sell trade to be in. When I currency is recovering from a low it wont always stay in small barriers. Oh well. My stop loss was hit at about 8:20 and I was out for a 15 pip loss. I will have to be much smarter than that tonight.

Trade Summary:

Sell EUR/USD - 1.5459
Close Trade - 1.5474
Loss in Pips = -15

Tags: Forex & Money, forex day trade, trade

This entry was posted on Wednesday, August 6th, 2008 at 8:08 am and is filed under Forex & Money. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.