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Tag Archives: pips

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. 🙂

Very Thin Trading Today

No trades today. Very little happening as the US are on holiday, so i decided not to trade. I don’t force trades, so if the set ups are not there we do not trade. I am sure we will have some opportunities tomorrow. I will keep you updated on any trades we take. If you are trading this week have a good one, and i hope you get lots of pips. 🙂

3 Trades Today. 105 Pips Profit.

Funny old day today. Not much happening at all until around 5pm UK time and then the sell off began. I said earlier in the week that i would be looking for shorts this week as i thought the expected QE would not happen, and the word on the street today is that its not going to happen tomorrow, if at all. So i am expecting another sell off again tomorrow.

Our first trade was a Euro short entry at 12555, we closed that out at 12490 for 65 pips. Our second trade of the day was an AUD long trade. Our entry was at 10281 and our exit was at 10301 for 20 pips. Out third trade was cable long at 15772 and we closed that at 15792 for 20 pips profit on that one also.

So 3 trades today, all winners and 105 pips profit. A nice days trading today. We waited a long time for the move, but when it came we took advantage of it. If the market does not move, we cant make any money i am afraid.

This is how we trade, if the market is not moving you just sit and wait. My high probability Forex strategy teaches you to be patient and only trade when the odds are in your favor. If you want to learn how to trade this way, please check out my Forex training and mentoring program.

I am expecting a volatile afternoon tomorrow, and i hope we can get some good trades. What started off as a pretty low key week could turn into a nice little earner. If you are trading tomorrow, please be careful and tighten up your stops, as we could see some fireworks. I doubt i will be trading until after the news tomorrow afternoon. Have a great trading day everyone.

No Real Set Ups Today. Took 1 Euro Short Trade for 11 Pips.

Another quiet day today. Euro rallied a bit on the back of expectations that Draghi is going to pull a rabbit out of the hat, and the Fed are going to announce QE this week. None of which i believe is going to happen. Took one short trade today. Entry at 12560, closed at 12549 for 11 pips. I am looking for short set ups this week as i think Euro Dollar is going to tank at the end of the week, when we don’t get QE or a rabbit from Draghi. 🙂