At the roulette table once again. Risk reward of my last trade can't have been very good. I was in the red by -1000$ 1hour after the US close. Went to bed watching some "King Of Queens". Always a soothing proposition. Woke up pretty early this morning to find EURUSD at 1.2222 again. I was rather surprised I had wondered whether we'd be below 1.21 to be honest. Even the S&P Futs up by 6 then. Now EURUSD 1.2282 , Futs up 8-9 points - pretty big moves.
I had formulated a plan to buy 1 lot every 50pips on the way up. But after having 100 pips on the downside that changed. Shouldn't have really. When everyone else is scared of doing something, it should give a favourable risk reward.
The chinese looking at their eurozone debt exposure (source FT) is about as relevant as all the talk they were behind the move in EURUSD to 1.50. The media talking of the chinese is usually a good sign a major top or bottom will be put in - at least that's what I'm starting to think.
Anyhow. Got out of my EURUSD trade with 17pips profit. Account now 1k in the green since last May.
Weird how the USD was weak last year with equities going up and now weak with USD being strong. Well it's a bit counterintuitive to me. S&P Futs and EURUSD trading in tandem is something someone needs to explain to me...
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