What a fish…

16 08 2010

Not sure what to make to the start of this week. Horrified to read whilst checking emails this morning that I hadn’t cancelled all my orders last week and at 1am this morning I’m long EURUSD at 12845. Worse still I’m no where near a computer and my mobile doesn’t allow me to a) log in to my account and b) allow me to check any java/flash driven chart. All I can do is log on and see that price is bouncing above 12800. I’m livid with myself having said all along that this was one thing I had to be SO careful about as I know my method means that I’m frequently initiating multiple orders and having to cancel them each time I void a trade.

Figured to myself that there’s no point panicking about this and the only logical thing I could do was phone up and place a stop below 12795 and wait to get in to work to see if price recovers. Obviously within minutes I’m stopped out. Here comes the best bit, when I went to bed last night I’d looked at where EU opened (128ish) and this morning I guess my mind just filled in the blanks because I was actually long from 12745…. what a complete fluke and what a complete fish.

For the purposes of this journal I’m not counting this as a win but a very fortunate scratch. Another lesson (fortunately not painfully) learnt.

Entered a trade just now which has just stopped out. High from yesterday at 1.2833, price broke through but failed and only just again broke through around midday. Entry at blue line, stop at red and gold was 1st TP. Moved my stop to below the higher low at 1.2839. Stopped for 23 pips from 3 contracts.

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