Decent day

Monday was a pretty slow day for me with only 1-2 signals all day. The first was a USDJPY short, but it didn't feel right so I passed. The second came after 3pm and was an AUDUSD short. I took this trade and booked a modest 18 pips in about 10 minutes. The trade ended up going quite a bit farther, but I was keeping my stop tight once it went positive. Added to my EURCHF longs, but those should start paying off soon. Overall it was a decent day. I was patient and waited for the exact setup I was looking for, took the trade, and managed it effectively. As a trader that is all I can ask for. Now I'm just looking for the next bus.

Greed is (not always) good

Today was a reminder that greed can be bad. There's a saying on the street that 'Pigs get fat and hogs get slaughtered'. This rang true for me today. I was long the AUDUSD pair with decent size, for me anyway, going into the FOMC rate announcement. Shortly before the announcement there was a small pop that could have given me a nice 30 pip gain on the trade. Instead of taking this profit and going on with my day I decided to stay in and look for more profits after the announcement. My eyes grew wide as the whip saw action took the pair up to a point that would have netted me over 120 pips on the trade, so I tried to close out and lock in the profits. Unfortunately I didn't get my close order filled all the way back down to break even where I decided it would be best to keep it open. The pit stop at break even was just that, a pit stop. The pair proceeded directly down and hit my stop loss turning a potential 100 pip gain into a 60 pip loss. Lessons are becoming abundant this week, and the most recent ones are to take a gain when you can, and don't count on being able to close out a trade during heavy market action.
Results for Wednesday: 1 good entry long gbpusd at a short-term reversal candle with the 1 hour trend, bad short eurusd against the trend, ok long audusd mentioned above, bad short audusd right after green long wick reversal candle. 1 for 4.