Show Buttons
Share On Facebook
Share On Twitter
Share On Google Plus
Share On Linkdin
Share On Pinterest
Share On Reddit
Share On Stumbleupon
Hide Buttons

Tag Archives: dollar

Market Moving Sideways.

The market has been moving sideways for a few days.

We did not get any trades on Monday, but we managed to get 2 yesterday. It was a real struggle to be honest.

First trade was Euro short at 12688 down to 12668 for 20 pips.
Second trade was Euro long at 12673 up to 12708 for 35 pips.

Seeing a bit of dollar weakness early on today. I think this will continue for most of the day and probably tomorrow. We have just closed an EJ long trade for 61 pips. I will give you an update on today a bit later. I think we are going to have a good day today. 🙂

Friday Trading. Dollar Strength For Most Of The Day.

We took 2 trades on Friday.

The first trade of the day was Cable long at 15910 up to 15927 for 17 pips.

The second trade of the day was EJ long at 10069 up to 10098 for 29 pips.

We saw dollar strength on Friday for most of the day, shorting my pairs would have produced more pips but we could not safely get into the down move, so we missed out on some good pips unfortunately. Sometimes this can happen and you just have to live with it i am afraid. If you cannot get into a move safely you are just gambling as the move can quickly go against you. We enter and exit trades with high probability, sometimes this means we can miss out on a big move if we do not get the correct entry signal.

We made 46 pips on the day so i think we can be satisfied with that.

Total trades for the week 11, total pips for the week 315.

4 Trades Today 62 Pips Profit.

Quick update.

4 trades today for 62 pips profit.

Best trade of the day was EJ long for 34 pips. Nice price action set up that was.

Trades are below.

DEAL 23/10/12 Spot FX EUR/USD DFB 12966.1 12978.2 +12 Pips
DEAL 23/10/12 Spot FX EUR/USD DFB 13028.6 13034.6 +6 Pips
DEAL 23/10/12 Spot FX EUR/USD DFB 13024.1 13034.8 +10 Pips
DEAL 23/10/12 Spot FX EUR/JPY DFB 10332 10366 +34 Pips

We also had another Euro long that did not work out, which i managed to get out of at breakeven.

Hoping for Dollar weakness in the Asian session so we can get some good shorts on tomorrow first thing.

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.:-)