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Tag Archives: EJ

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. 🙂

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

Thursday And Friday Trading 129 Pips Profit.

Hi folks, sorry i did not update you on trading yesterday, but i was a bit pushed for time as i was teaching yesterday.

Yesterdays trade was AUD short for 20 pips. Entry was 10298 exit was at 10278. Today we took 4 trades. The first trade was Cable short for 30 pips. Entry was 15973 exit was 15943. The second trade was Cable long at 15929, out at 15997 for 68 pips. The next trade was EJ short at 10039 exit was at 9998 for 41 pips.

We also took a Euro short at 12690, that was stopped out for 25 pips loss. Total pips today are 119. Total pips for the week are 326.

6 Trades Today 109 Pips Total.

First trade of the day was an EJ long at 98.03 closed at 98.39 for 36 pips profit.

The next trade was on Euro Dollar. We had 2 potential entries short so we split the position between the 2 entries. The first entry was at 12536, this trade went into a little profit before some news came out that sent the Euro up and hit our other short entry at 12540. Both trades went into negative pips by around 16 and 12 pips respectively. We don’t trade news but we are aware of it, and how it can affect the price.

I decided that based on the news release the 2 trades that i took were going to fail, so i looked at getting out of these 2 shorts as quickly as possible, and with as little pain as possible, as i thought the price would go higher, and in fact it did.

When a trade or trades fail, the first thing you should do is not panic. When you panic you make bad trading decisions. I quickly assessed the situation and looked for a possible exit from the 2 short trades. Now the price rarely moves too far in one direction without some form of retrace, so i set my exits based on a retrace of the move higher, at the logical entry point of a new long trade. The logical long entry was around 6 pips below my first short entry at 12536, (12530) so i set a limit order to close both trades at 12533 to be on the safe side. The price came back and hit 12531 so i just managed to get out of my 2 trades for 10 pips combined. The price then proceeded to move higher.

The 4th trade of the day was a short trade on Cable. We entered at 15898, and closed at 15887 for 11 pips profit. My initial target for entry was 15901, but i had to allow for the spread so i went in at 98. The price actually went as high as 04 before it started to come back down, so i could have set my initial target and still got filled, but id rather get in a few pips early than miss the trade.

My 5th and 6th trades were Euro short at 12610 and closed at 12590 for 20 pips, and entry short again at 12620 and closed at 12588 for 32 pips profit.

There was a lot of news out today that affected the markets. I was initially expecting a move down today, but the positive news drove prices higher. There is an ECB meeting tomorrow so i am expecting some volatility. I am sure we can get some good trades again. 🙂