Re-entered short. Judging from head and shoulders this pair can break down and I don't want to be out of my position.
For some reason I couldn't log on ET all day until now. In the mean time I have been having a hell of a time gauging the direction of the market starting with my initial short which I reversed as prices crossed 1.3010 and then getting stopped out of my longs at 1.2985. I took a break thankfully and decided to reassess before making any more losing trades. I am still bearish and decided to short again at 1.3020. Soon another stop out at 1.3055 but I quickly re entered my short. Current acct balance: 380 (unfortunately I scaled up just before my losing trades).
Here is a chart with my trades. I have been trading manually since the market has been so choppy that my programs signals are actually unprofitable too. I will post them as well. I will continue to be bearish against 1.3080.
Here are my last few signals. I have not taken them since as I said in my prior post I decided to take a manual short against 1.3080 anticipating a break below 1.300. I am still in the trade although I have been stopped a couple of times . None of my signals that I missed were profitable either. The EUR/USD market has just been trendless and therefore very frustrating for me but I anticipate that will change very soon. Tomorrow I am graduating medical school so its a very exciting time. I have not been able to focus on my trading as much as I should. By midweek I will be back to it however with full force.
So after a long hiatus I am back to continue my journal. When I left off it was early summer. I closed out my last losing trade and emptied my account since I needed the money for vacation and moving to NYC to start residency. Since coming here I have saved up a little from each of my paychecks and refunded the acct. I have placed a total of 1700 of my own money. Currently I have comleted the majority of another GAP trade in EUR/USD that has brought my total balance up to 3200. I want to continue to trade since for the first time I will have gone through a year without a disaster and I want to see what I can continue to accomplish. So for the week ahead: Bal: 3203.50 I have 10K short from Friday. I am looking for the weekly gap up to close on EUR/USD down to 3.283 and I plan on getting an aggressive position as I see it breaking down. In addition todyas opening may also open up other opportunities. Once this market inefficiency is resolved I will continue to program trade with smaller volume Cheers to all
Closed my short in the range 1.3420-35 range will wait for another shorting opportunity Balance 3772.40
Redshorted max size another L shaped flaccid recovery leads me to believe there is more selling to come.
So I have added to my short but in an effort to make this trade more useful to others I have to confess I had quite a shit trade before this that has hit my account a bit. Once I was stopped out at 3600 I had actually re-entered in the middle of the night since my noisy neighbors had woken me up and subsequently I woke up to 1k loss because I had forgotten to place any stop. Truth be told I barely remember placing the trade but I had to gather my composure before diving back in since I am extremely prone to revenge trading. I really try to maximize my risk to reward and those kinds of trades usually from my past history have preded the real blow up. Trading doesn't forgive even a moments lapse in judgement. I had assumed I was completely correct without even analyzing the developing price action. No excuse.