Graveyard Shift Spreads + Derivs Trade

Well, was looking at the chart of the DOW, and that end of day sell-off. That got me thinking that USDCHF must be tending toward short-term oversold levels, and EURUSD must be in overbought territory, so both due for a 1-2% correction! So I decided to get long USDCHF. I was also fighting impulse to increase my size to 2 lots instead of 1, but in the end kept with 1. Good thing too. Graveyard shift in USDCHF wasn't a good idea to be wanting to make a quick kill. Spreads are 3-3.5pips. Doesn't sound like much, but when I'm looking for 10pips it is. Darn thing would've needed to move 13-15pips for me to get what I wanted. So after 40min of not moving much I decided to scatch the trade. 5$ for me, 20$ or more for my broker.

Update: I kind of expected it. It moved back to 1.0100 (45pips!!). I wanted to have it overnight. It would have been a small risk. Reward was decent. But it wasn't to be!


Nestlé 5 Day Chart - Warrants Trade

Update 2! - Saw Nestlé had results out today. They had been upgraded by UBS couple of days ago. Guess what: They announced larger buyback programme and good results. But I felt the insiders would be offloading the news. So I bought 20k usd worth of puts. Sold them an hour later for 20.8k usd. So I'm feeling cocky and good. First derivs trade in a year for me.




FX Trade info:
Duration held: 40min
Pips: 0.5 (!)
Size: 1 lot