My EUR/USD Trade [01-10-2007]

Hello people,

On the [01-10-2007], I inititated a short position on the EUR/USD at 2:24pm (Singapore Time). This pair looks kind of resting based on the charts and I was expecting a little retracement or technical correction after how it ran on the upside last week.

Nonetheless, I was wanting to see some sellers commitment in the market first before initiating the short position. Initially, after initiating the short position at the price line of 1.4254, my stop loss was at 1.4274 and target profit at 1.4190.

As time goes by, I see more sellers commitment and I decided to change my target profit level to 1.4120. I reached home around 9:00pm (Singapore Time) that day and I was prepared to see the USD's ISM Manufacturing data release at 10:00pm (Singapore Time) to decide on whether to close my trade or not. At around 9:55pm (Singapore Time), I had decided to keep my trade open and shift my stop loss to my entry price but, hehehehe, not actually at my entry price, it is 1pip away, which is at 1.4253 :P Hahaha! I will tell you why. I am a little greedy boy, even if market were to stop me out, this trade is still considered a winning trade with 1pip profit :P Hahahaha!!!

Anyway, at 10:00pm (Singapore Time), I was watching the market and it was a dissappointing wait, not much action happened and it was good news to me, market didn't want to go up. The whole of [02-10-2007], was just looking at it and there is no signs that is showing that buyers commiment are coming back in. So, I was confident enough to keep my trade open till today [03-10-2007].

Woke up at 4:50am (Singapore Time), thanx to my mum. Woke up, ate some food before fasting starts and at 5:15am (Singapore Time), watched my charts, a little air headed and I decide to close my trade manually at 5:20am (Singapore Time), at the price line of 1.4156. That is a 98pips profit for this week as of now :)

Peace and trade safely everyone...