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With the EUR falling to 1.4700 area I decided to close my seven EUR shorts. Target hit and want to be out by GDP report. Even though 2 positions were in the negative my account received a nice boost.

1.5015 +306 pips, 1.4948 + 239 pips, 1.4928 +218 pips, 1.4788 +78 pips, 1.4760 +50 pips, 1.4536 -115 pips, 1.4536 -174pips. Closed all trades at 1.4713.

Possibly resell higher up grid...or buy lower....sounds like I have a plan! Yeah...right.

Lets just sit on my hands for a bit and take the market in via observation.

-- Edited by northwoods on Thursday 29th of October 2009 09:13:11 AM

Well done !!

Thanks!

I need to clarify that I am not a genius, wizard, or know it all doing this trading. I will only say that it felt very natural and relaxed even as the trade went against me. I think I stated earlier somewhere that at 1.50 no matter what I was going short heavy to add to other positions. At that time...I was fairly sure my decision was correct..in my mind. Because it seemed all around me the EUR was talked of going higher, DOW was talked of going higher...When it all hit the front pages in the newspapers, web sites and whatever of up, up, up...then I really felt much more relaxed.

In my mind I had stacked the deck in my favor, took longer that I thought...but it worked in my favor.

Fundamentals, technicals, trendlines, contrarion thinking and FUNDAMENTALS!

Now...what the hell do I do now??? Well..just sit and watch and make a non rushed decision...

I ended up going EUR short at the highs and targeted 50 pips. Wife called and said at +50 pips later. So she closed per our plan...rats..left some on the table! Oh well..there is always next time...

Need a weekend break with no open trades...