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Tag Archives: trade

AUD long for 18 pips. EJ short for 31 pips.

Another funny day. AUD was moving sideways for most of the day but i managed to get a long set up and took 18 pips. I entered at 10562, and closed at 10580.

EJ was a bit better as the Euro was quite weak today, and i managed to get a short set up for 31 pips. I entered at 9683 and closed at 9652.

I missed a set up on Cable, and i don’t chase trades so i passed on that one. The trade would have got me 23 pips if id taken it. No set ups on Euro today.

The markets are very hard to trade at the moment, so i am not looking for massive targets pips wise. I would rather take a quick 20 pips profit, rather than run the risk of some unexpected news coming out and spoiling the trade. When the markets settle down a bit i will let my trades run a bit longer. Best to be safe at the moment though, and bank those pips. 🙂

Market is a bit slow at the moment.

Not much happening at the moment. No major moves yesterday apart from Cable shooting up after Mervyn King said that QE may not now happen. For those of you that do not know what QE stands for, it stands for Quantitative easing, which is basically printing money. When Governments print money it devalues their currency. So if no devaluation is planned and the market expects QE, then the currency rallies.

My 4 pairs are in a slow up trend so i will be looking for long entries. No clear set ups at the moment so i am happy to wait. There is an announcement regarding the Yen a bit later on so that may have an effect on the currency market, so need to be aware of that. Should see a trading opportunity this afternoon i would think, so i will post the trade on the blog if i take one. I generally get at least one good trade per day depending on how busy i am so lets hope one comes along soon. Have a great trading day everyone. 🙂

Took Cable long trade for 41 pips profit.

This is my first trade on my new blog. I took Cable (GBP USD) long at 1.5579, i added to the trade at 1.5574 and closed both trades at 15596 for a combined profit of 41 pips less spread. I think the move could go higher, but i am happy with 41 pips and to get the first trade on the new blog. 🙂