Week 3: Day 4

I made a buy early on at what appeared to be the low, but it was in a down trend over the week so the second time I became hesitant to buy again. It was annoying because I would have made 50 euros but it did retrace back to the low, and I did manage to sell it near the high for a small profit but didn't buy it when it came back to the low. It did break down and I bought it a few ticks lower and sold for a profit and it continued to gradually make new lows and I did the same again. I really think I should have been selling the lower highs, especially if I think it is still trending downwards. Something I realised is that it is so against human nature to sell a price that seems cheap, it appears to make more sense to buy the new low but logically this is far more riskier as you are fighting against the trend and it could just fall further than you think.

As the day went on it was ranging downwards and the range was becoming tighter and tighter and I feared an outbreak and more towards the downside. I was really hesitant to get involved and just decided to watch and it did in fact fall about 5 ticks in a short space of time. I then considered buying it and I had myself queued and then realised I wasn't going to get the price I wanted so I pulled my order which was to sell the schatz. Literally 2-3 seconds after I pulled my order, there was news I believe from Trichett saying there will be no quantitative easing and I think just the fact he said the word made people panic buy and it literally rocketed up 6 ticks and then retraced back but continued to rally upwards making the TED spread plummet further. I just sat back and watched I didn't trade after 1.30pm and was pretty happy to not get caught in this trade like I did last time.

I had a good day today and I have had just 1 losing trade in my last 24 trades, so wondering how far this will continue!