Scalp journal – 4 December 2008
My overriding feeling after taking 8 trades today is that I didn’t trade enough.
I missed shorting EUR/USD at 1.2850 by a pip or two. In retrospect it would have been better to short GBP/USD at 1.4800 around the same time.
I didn’t trade the correction of the big move made in the morning. A long placed at 1.4750 on sterling or EUR/JPY at 118.50 just after noon would have been a high probability scalping opportunity. Woulda coulda shoulda.
My EUR/USD long entry at 1.2800 at 14:20 EST missed its profit target by one pip (just wasn’t my day with the euro it seems) and I didn’t like how price failed to retest above 1.2800 for the remainder of the afternoon so I closed out the position on a retest of the 1.2750 level.
It bit into my profits for the day but I still ended in the black.
| Trade | Market | Direction | Entry | Exit | Pips |
| 1 | EUR/USD | Short | 1.2722 | 1.2722 | 10 |
| 2 | EUR/USD | Long | 1.2590 | 1.2600 | 10 |
| 3 | EUR/JPY | Short | 116.75 | 116.65 | 10 |
| 4 | GBP/USD | Long | 1.4590 | 1.4590 | 10 |
| 5 | GBP/USD | Long | 1.4652 | 1.4662 | 10 |
| 6 | EUR/JPY | Long | 118.907 | 119.00 | 9.3 |
| 7 | EUR/USD | Long | 1.2800 | 1.2754 | (47) |
| 8 | EUR/USD | Long | 1.2755 | 1.2765 | 10 |
Total daily pips: 22.3
Related Posts:
- Scalp journal – 2 December 2008
- Scalp journal – 6 November 2008
- Scalp journal – 9 December 2008
- September 2007 Review
- School boy errors
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