Archive for January, 2008
Hi all,
I'm not back to full swing as yet... remember I was talking about the EUR/CAD last night? Well, it did go higher in fact, it went up to 1.4690 and is currently sitting at 1.4641. I should have kept it at the 100 pip limit order when I took profits at 1.4500!
I have just gone long USD/CAD at 0.9937 with a 100 pip stop and target, I'll see if I can hold this. The reasoning for the trade starts off by looking at the daily chart.
If you look at the stochastics, you can see that it h
January 2, 2008
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I've closed my EURCAD long as it hit resistance of 145000... I wasn't sure what would happen from here.
I got around 50 pips which is a nice profit nonetheless.
The market could easily go higher now and reach my intended 100 pip target...
I am not sure why my broker had put the price to above 100 pips when the market was closed. Nevermind though..
One of my biggest trading nuances is that I can't seem to hold onto winning trades.. I hope this will improve in 2008!!
January 2, 2008
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As I mentioned yesterday, I went long the other day EURCAD. I want to swing trade and hold out for more amount of pips rather try and scalp for 10 - 20 pips.. I am going to try and enter off the daily charts but using the shorter timeframes to time a better entry.
With the EURCAD, I am using stochastics and MACD as an indicator. In the daily charts, the stochastics are moving up from the 20 mark and the MACD haven't yet crossed but they are looking to do so. Looking at the 4 hour charts, the
January 1, 2008
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