I made a very small trade last night.  It was a very small trade only because of the timing.  It wasn’t anything to do with timing in the market.  It was all about the fact that I had to study for two quizzes today in school.  I had been watching the EUR/USD setting up into a nice little pattern for me.  I was watching the clock cursing up a storm as I was really excited to get a positive trade in.  It finally formed for me at 8:37pm.  I was banking on a very quick upward movement off my lower barrier.  The barrier was tested but held fairly strong.  Unfortunately for me the trade took longer to get it’s momentum than I planned.  I decided to get out 3 minutes later when I was up 2 pips.  I really had to get going!  My initial goal was 10 pips for this trade because the setup was perfect for me.  Had I been able to wait another few minutes I would have been able to bag my 10 pips.  Hell, if I could have waited 10 minutes after that I may have had 20 pips!  By the chart, you can see that this thing really ran.  But, I would have walked away once I hit my target.  Oh well.  Beggars can’t be choosy.  I haven’t been trading too often lately so I am glad that my instincts are right.  I probably could have advised you on this trade a lot better than when I actually go to execute the thing myself.  Given the fact that I was also trying to study, 2 pips is not half bad.  I weighted this trade pretty heavy as well.  So, those 2 pips are a nice profit for me!  Here is the chart.

Trade Summary:

Buy EUR/USD - 1.2960
Close Trade - 1.2962
Pips= 2

Tags: Forex & Money, Forex blog, forex day trade, Forex strategy, forex trade

This entry was posted on Thursday, January 22nd, 2009 at 8:21 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.