Friday, 30 April 2010

Follow your instincts

Interesting scenario today. I opened up a long position on GBPUSD for the 7:30-8am surge. It arrived then died away. At the same time I noticed that the EURGBP was in a "setup".
I had both open at approx 8:30 and despite that my instincts were to go with the EURGBP because the stochastics for GBPUSD were in the >70 for longer than I though would be good and RSI was dropping and the EURGBP was showing stronger signs of trending up I went with the GBPUSD because I reckon I know more about it's movements.

P&L -5 (EURGBP) 8:30am
P&L -18 (GBPUSD) 11:30am

In hindsight should have gone with my instincts?

No comments:

Post a Comment

Note: only a member of this blog may post a comment.