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May 20

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Thursday 20th May 2010 – The Wild West

It’s like the wild west out in FX land today…………I got out just about with my jacket in tact by 11am, and thought I’d call it a day a few pips down but nothing to cry about. All hell seemed to set loose after that…..400 pips on EURJPY, 300pips on EURAUD…….

I was actually short on Cable at 11:08 and after a 28 pip retrace in 2 mins I bailed out for a few pips loss thinking like the rest of the morning crazy stuff was going to happen and the price would should up – this morning was Volatility with a capital V.

No – this time the pair acted normally and after the 2min retrace fell 100pips hugging nicely to the outside of my 15 ema most of the way.

I wasn’t on it, but gave me confidence that my setup was right, my entry was right but my exits are still getting the better of me – My Fear of Losing and my Fear of being Wrong I guess. Do I want to be a Bull and a Bear OR a Rabbit and a Racoon ? :-)

My coulda shoulda woulda trade is below……just when I needed to be a Bear and not a Rabbit !

Coulda shoulda woulda 100 pips

Coulda shoulda woulda 100 pips

Not trading tomorrow, off to play some charity golf.

Next week I might be fwd testing a strategy in demo – not sure yet we’ll see.

Jimmy

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