Apparently last weeks downer has made an impression on my psyche resulting in me being too risk-averse this week. Below is one of the several examples of such today.

I shorted EURUSD at 1.46065 and purchased it back at 1.46057 giving a mere 1 pip profit. Why? as we can see EUR had a ride with a couple highs testing resistance around 1.4614 so it was simply a relief to close the position at a small profit rather than loss.. but obviously, what I should’ve done was to stick through it and wait for the drop to 1.4584 which would’ve given a 22 PIP profit..

Well, we can’t win them all…at least the initial expected development was correct, now to work on timing..

This entry was posted on Tuesday, November 13th, 2007 at 1:34 pm and is filed under FX. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.