Wednesday, November 08, 2006

Getting bored - time to change!

Morning all,

Must admit that I didnt want these breakouts to be in for days and days . It's ok like but on those pairs that have a negative swap it can very easiy eat into your profits.

I also think that the reason for this is the size of the breakouts i'm looking at so it's time for a change.

Firstly lets recap on what is running and the state of play.

worst offender at the mo is GBPAUD which entered short on Monday with a first position at 2.4579 and is currently 200 pips in the red. at least this one is +ve intrest.

second is CADJPY - this one went short monday, long monday and has now gone back short - the stop on the long triggered so a loss of $153 to make up with the shorts of which there are now 3 positions running at about break even - this is a -ve interest position so hoping it will give a run today and get closed before the triple intrest tonight.

3rd up is EURCAD - thankfully this one has gone in a single direction :) North - again a -ve intrest position but not a large swap - it has 2 positions open but looking as slow as a busfull of mongs.

Gold still hasnt triggered and i might ditch it later - but for the time bring i'll hold.

So, what do i mean by making changes?

Well, im going to have a go looking at shorter timeframes and tighter ranges - this is how i did ok the first time i started doing this expert - you do get a few more losers but mostly you are in and out in one day.

So, the first one of these trades is on euro and looks like this

here's the close up

Second one is on Swissy - going to be a bit risky here and pop a gid of 5 pips on it - thats 5 pips between the trades - pic is below - catch you later or tomorrow.

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