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Monthly Archives: October 2012

Latest Trades And Update For The Week.

Its been a fairly quiet weeks trading. We had a great day on Wednesday, yesterday was pretty much a write off. We had a few trades that failed, and a couple of little winners. I am not going to go into detail about each individual trade, but we lost 32 pips on the day. 🙁

Its not very often we have a losing day, but they do happen from time to time. Its totally unrealistic to expect every day to be a winner, you have to have losing days, they are part of trading. All as you can do is accept that you got it wrong and move on. 🙂

Today was a good day. We had 2 trades. A Euro short at 12985 which we closed at 12961 for 24 pips. We also had an EJ short trade at 10190 which we closed at 10171 for 19 pips. We also missed a Cable long trade by 3 pips which turned out to be a winner which would have got us around 20 pips initially, but the complete move if we held it would have netted 50 plus pips.

So 2 trades today, 2 winners for a total of 43 pips.

Total pips for the week 212.

Have a great weekend all.

The Crazy World Of Forex Trading

What a difference a day makes in the crazy world of Forex trading.

Yesterday I was struggling to get a trade, and today we have had a bucket full of them.

Where do i start? We missed a couple of nice trades shorting Euro yesterday. When i say missed, i mean we did not get filled.

The way i set my trades up is i have a price point that i want to go short or long at, i set my trade at exactly that price point. If it gets hit we are in the trade, if it does not then we miss it. I don’t chase after the train when it has left the station though, as normally there will be another train along very shortly, but yesterday the trains were on strike i think.

We managed to get one trade yesterday on Euro long for 8 pips. And that was it i am afraid.

Now to today. The first trade of the day was a Euro long trade at 13835, exit was at 12876 for 41 pips. We also took EJ long at 10047 and closed at 10090 for 43 pips. These trades executed early this morning in the Asian session. Occasionally i will leave pending orders in overnight if i think i am not going to be at the PC when they hit, this was one such occasion.

The third trade of the day was another Euro long at 12852 exit at 12876 for 24 pips. We also took AUD long at 10224, exit at 10254 for 30 pips which was the 4th trade of the day.

The 5th trade of the day was Euro short at 12907 which we closed about 15 mins ago at 12880 for 27 pips.

the 6th trade of the day was AUD short at 10259 which we closed at 10240 for 19 pips.

We also had a cable short at 16037 which did not get filled, the price went to 33, so missed that by 4 pips, the price has moved 30 pips to the downside as i type, so that would have been another nice trade.

So all in all we have had a great days trading today.

6 trades, 6 winners, 184 pips profit. Best day for a while that. I am very pleased with that, it makes up for the poor day we had yesterday, but if the trades are not there what can you do? You can only trade what you see.

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US Holiday Trading. 2 Trades Today 60 Pips Profit.

Today was a bank holiday in the US so there was very little activity in the US trading session today.

We managed to get 2 nice trades this morning though, for 60 pips profit.

The first trade was a Euro Dollar long entry at 12939, the exit was at 12973 for 33 pips.

The second trade of the day which was almost the same time as our Euro trade was EJ long at 10121, exit at 10148 for 27 pips.

We also had a long on Cable that got into 12 pips profit, but it did not move up when the Euro and EJ trade did so i closed it for a couple of pips profit as i thought it had further to go down, and it did, so its a good job i decided to close it when i did.

Cable looks like it has bottomed out now though so we should see a move up tomorrow, to take back some of the large move down. Longer term i am pretty bearish on Cable as it still has a long way to go down in my opinion.

We should see some decent trading tomorrow as the US will be back in the market, so hopefully we will get a couple of nice trades at least. Happy trading. 🙂 TFT7K9C4MJY5

Fridays Trades. Non Farm Payroll. 3 Trades 71 Pips Profit.

Yesterday was a typical non farm payroll day. All the pairs went sideways for around 15 hours, trading in a 20 to 25 pip trading range, until 1.30 UK time when the jobs numbers came out.

The numbers were a lot better than expected which saw the dollar weaken initially, and then strengthen significantly towards the end of the session.

As i said on Thursday i would be looking for short positions yesterday so when my pairs went up after the announcement i was very happy. The push up was a great opportunity to get some shorts on at a discounted price.

The short trade I put on on Thursday was rolled over until yesterday morning when i closed it for 6 pips profit. The reason i closed it is i did not want to be holding the trade when the news came out, as i expected the price to move significantly, and i did not want to get caught on the wrong side of the move. This turned out to be a good decision as Cable went up around 40 pips before it started to come down.

There was a great price action short set up on Cable which i took at 16210 which netted us 36 pips. I got out of the trade at 16174, which was a little early with hindsight as the next 3 hours saw another 50 pip move down. If it was a week day i would have probably held the trade for a little longer, but i did not want to carry the trade over the weekend so i banked a nice profit.

My other trade of the day was a Euro short at 13046. The trade went against me initially but came back to net me 29 pips profit.

I also had another 2 short entries on Euro and Cable that did not get filled unfortunately which would have netted some nice pips.

Total pips for the week 260.:-)