Archive for the Forex trader Category
The GBPJPY trade. I went long GBPJPY the other day and initially, we got a great move.. up 50 pips. I expected the movement to go up much more and 50 pips is a relatively small move in the GBPJPY market. In the afternoon, the price action stalled and fell and then bounced. I felt that the price action wasn’t clean and as a result I closed off the trade with an approx 50 pip loss as I anticipated uncertainty.
This morning, there were further falls and I felt great that I had got out of t
March 20, 2013
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As you can see from the chart, the GBPUSD has been in an extremely bearish market. However, when I saw the bullish pinbar, I knew my trade would be a countertrend trade where I would have to be extremely careful, ensuring that I don't end up losing pips.
With my last few trades, I've been holding out for the longer trades but they've not been working out for me so I'm going to split my trades... I'll report on the ones where I have had my most success (ie daytrades) on Twitter but will be
February 24, 2013
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Unfortunately, EURUSD broke through the lower bullish trend channel line and our stop was hit.
I've been thinking a lot about holding trades longer as I've known that this is one of my weaknesses in trading and with this trade, I did hold the trade and didn't meddle with it.. however, the price action didn't go where I was hoping it would and the trade ended up in a loss.
It's extremely frustrating when this happens, my old method would have meant that I would have taken profits at 135
February 17, 2013
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