Monday, April 21, 2008

Half size trades

I use now most of the time half size trades. I don't want just to cut leverage and call this full size. It has psychological advantage. When I'm 8 pips down I say it's just -4 and so on. I stay longer because I want at least 5 pips so I got to wait for 10 to get that. Also I don't feel urge to average to fast because it's not so much a loss. Like today when I was -10 in eur/usd on first trade, it would be good decision this time to average but I didn't feel pressure so I didn't risk more which is usually good thing.

I was long too early, but at the time it looked like it's breaking up. I waited because it wasn't so inclined to go down. I was looking other pairs and wanted to add more positions when it's start going, but at the time break up was happening it wasn't so clear on other pairs that it will be strong big break.
I had also a little short because it was near resistance.
+12 pips in eur/usd

I lost -1 pip on gbp. Funny I was trading with full size in gbp/usd like it wasn't violent and fast. I was sure that it will push to round number and more at that time, but it didn't.




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