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Mar 15

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Monday 15th – End of Day

So lunch and gym done, and now focus on New York (starting 13:30 UTC from today).

For me EURJPY looked like having some opportunity to exploit after the mid morning retracements started to burn off and this pair trading nicely below the 50 and 200 ema’s; unlike Cable that was straddling and making entry more difficult to ascertain.

Well, could have been a nice trade if I had got my Entry and Stop Losses in the correct position. First mistake was entering the trade when consolidation was just broken rather than close and clear, although a minor error compared with the rather too aggressive Stop Loss placed at 124.28. A smaller trade size to keep the risk proportionate and placed at 124.45 would have been appropriate. Still, easy with hindsight as always. The missed opportunity will be “missed” but at least my errors cost me just 17pips.

I felt this trade was a little rushed, and certainly did take enough time to work out all the parameters correctly.

Graph appended below :

50 pips missed on EURJPY 150310

50 pips missed on EURJPY 150310

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Permanent link to this article: http://intradayforextrading.co.uk/2010/03/15/monday-15th-end-of-day/

2 comments

  1. fxtradersandy

    Hey Jimmy_FX, just passing by and paying my respects.

    Will keep tuning in.

    Sandy

  2. Jimmy_FX

    Thanks for dropping in Sandy!

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