Forex Trade - November 12, 2008

Here’s a change…a morning trade!  I didn’t get to trade last night.  I spent the day golfing with Johal.  Yes, golfing.  It was pretty damn cold outside.  I still managed to shoot an 88.  You know what helped?  Brandy!  A couple shots of that stuff will really warm you up.  Anyways, I finished up and headed downtown for dinner with the girlfriend and some of her family.  So, no time to trade.  I was up very early this morning so I figured I might as well get into the charts.  It has been a very long time since I dabbled with trading during the morning.  one thing I love is the pip spread being at 0.9!  My god, if I had that at night I would be making a killing.  The action is much faster and you really have to be confident in your choice.  I got into a buy trade around 8:09am and was out about 2 minutes later.  I only bagged 2 pips, but I was OK with that.  I was more nervous about my exit than I am in the evening.  I could have stayed in this trade for a few more pips.  It wasn’t worth the risk though.  This trade actually worked against me for about 10-12 pips at one point.  I was confident I would go to the positive but I wasn’t sure how much it would go for.  2 pips is 2 pips!  It is still a helluva lot more than the bank would ever give me in interest payments.

Trade Summary:

Buy EUR/USD - 1.2527
Close Trade - 1.2529
Pips =2

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