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Nov 05

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Such a beautiful Loser !

I have had a quiet non-profit making week; it happens. This is the life of a trader. I tried to stay away from trading the big news announcement by FOMC but got sucked in……slap on the wrist for that. My first mental apparition since mid September, again this happens.

Today there was a perfect setup to go short on EURUSD; well over bought position that needed some correction and I preferred this pair over cable and Aussie. It just technically looked a better bet.

I went short at 08:10 at 1.4180 and got taken out 20mins later at 1.4225.  Price then fell away sharply. I could argue my stop was too tight,, but that’s all hindsight……I still think the setup was OK, just didn’t work – that is all.

Click on the pic to see a Hi Def View of it 😉

Lovely Loser !

Have a good weekend

Jimmy

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Permanent link to this article: http://intradayforextrading.co.uk/2010/11/05/such-a-beautiful-loser/

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