Tuesday, 15 June 2010
Bad volatility pile up
A particularly bad day for a currency deal, or maybe more of a case of the wrong setup?
The good points were that I tried to wait until the move was underway and I put in a stop not far above the range of the most recent of the bars. Regretted not putting in a higher stop at the time but the move went right up to 14816
The bad point was that I put too much on, and that at 10am the trade was in a good profit before bouncing up at a great velocity
The circled points are what are theorectically better setups - early morning lots of narrow bars. I had too many average sized bars which morphed into larger bars still with no sense of direction - only whipsaws
DJIA broke strongly above 10240 to finish 10400. This is close to text book, but the move was almost straight up giving no chance to jump on. More proof that it's better to stay in once a move has begun because jumping in halfway up is very tricky
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