Saturday 1 May 2010

Back where I started

After a bad morning tried to get back in the evening. Another mistake really - as I already know that after 19:00 the volatility drops, and without volatility profits are sparse. Still - went for a short on 15278 GBPUSD because of my "setup" ie stochastics crossing into the <20 and RSI still high. However lost faith and closed at 15301 20:54 (mainly because I wasn't sure when the market would close). The pair then proceeded to do exactly what I predicted and dropped to 15267. As before though a poor trade because without volatility these trades don't work properly.

A better trade would have been short on Wall Street Daily at 19:30 when I opened the dealing platform at 10087. My feeling was of a late selloff. As it happens I did take a short at 11020 and closed a 11015 right at the end of the day when the selloff gained a bit of momentum. Was this instinct or just guessing

P&L - 12

Back where I started!

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