Thursday, September 10, 2009

Missed opportunities

Don't you hate it when you have the chance and you don't take it, because you're still a little gun shy from getting burned... 7 am today I got the beep letting me know there's a possible setup, so I check it out and GBP price took off like crazy. There's two settings when you setup the alerts in AccuCharts, the crossover can set the alert off at either after the tick, or after the bar. If you set it up for after the tick, you'll get the earliest notice, but you'll get a lot of false alerts, especially if the price is trending along without much action and the MCADs are continuously on top of each other. On the other hand, if you set it to after the bar, you'll get definite alerts, but sometimes they may come to late, and you'll miss out on some opportunities.

Checking the chart now, It looks like it would of been an opportunity that might of made about 105 pips. Have to see where PipSurfer ends up with that trade.

Hmmm, checking the events it looks like some news items came out at around 7:30 am, so they might have had an impact on getting the price to jump so nicely. PipSurfer might of sat this trade out because of the news events. I'm still not 100% behind the 'always getting out of the trade because of the news events' rule. I think I'll just watch stops carefully for when news events occur, as there's a 50/50 chance they could have a positive effect on the trade.

Oh yeah, and to top off the missing the nice 105 pip action, I always left the hotel I'm at today, walked about two blocks, got down into the subway and was waiting for the train, and realized I forgot my wallet... /sigh.

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