Wednesday, October 31, 2007
Price moved wildly after FOMC on all pairs as usual, on eur/jpy we had a false breakdown and then a move to a new high in less than 30 min. For the first time I didnt jump the gun and I didnt short the pair on the run. I waited for the move up to break the descending trenline, i entered a little bit late, collecting 12 pips very fastly. I closed to cover the previous loss.
5 trades on Wednesday in total. In pips : -8,3 +12,5 +2 -13 +12. Total +5,2 pips, +0.50% of the account.
Starting to post here trading ideas, mistakes (in order to avoid them in the future), charts and all my day trades. So, to start, mistake Number 1! : I entered long based on 1M chart, while a huge divergence WAS THERE, white on black, at the 5M chart, and MACD. -13pips. Lesson learned: never ignore a MACD divergence of the higher TF.