Long EURUSD @ 1.1989

Entry: (2006.02.07 18:55 EST)
The eurodollar MA(50) crossed the 200 upwards around 17:00 EST today. Looking on my M30 and H1 charts, I see no real resistance before 1.2015. I have therefore opened a long position in eurodollars at 1.1989 with a S/L at 1.1979 and a T/P at 1.2010. The time is 18:55 EST. I would go higher with the T/P (to 1.2015) but I'm worried that there will be too much down pressure at 1.2000.

Exit: Two lessons learned on this trade:

1. Swap hurts when you're not expecting it and it goes against you; don't get caught by swap. This is the first time I ever got charged a swap fee so I suppose this is not the end of the world.
2. This trade went wrong at 19:57 EST when the price dropped through the MA(50). This should have been a signal to get out. Unfortunately, I was not in front of my computer and the price proceeded to drop below the MA(200) before finally stopping me out 10 pips below my entry. Lesson(s) learned: don't leave a (day-)trade alone even if it is in the black; get out before you get stopped out when the premise of your trade proves to be incorrect (in this case when the price drops below two moving averages and doesn't recover.

-10 pips