Archive for the Forex trading Category

Another profitable daytrading day on GBPUSD, EURUSD and FTSE markets

Another profitable daytrading day on GBPUSD, EURUSD and FTSE markets

It was another good day on the markets.. it's funny how you get periods when your systems don't seem to work at all and then when they work, everything works nicely. A big part of that is because the markets are always changing... the go from trending to non-trading, from trending up to trending down. Most systems work for a particular type of market... it's difficult to find a system which works across all of the markets volatile personalities. Anyway, I had two trades on the GBPUSD today...

May 6, 2011 No Comments Full Story

Today trades on GBPUSD, EURUSD and FTSE100 and pivot levels

Today trades on GBPUSD, EURUSD and FTSE100 and pivot levels

The pivots today were all very significant in trading today.. if you look at the blue pivot line in the charts below for all trade instruments (GBPUSD, EURUSD and FTSE), you can see how the price action reacted to the pivot line. With the GBPUSD chart you can see how the market bouced off the pivot line at around 8am... shortly after this I went long which wasn't a good trade as I ended up with -20 as the market went down. However, on hitting the pivot again, you could see that it provided no

May 5, 2011 No Comments Full Story

56 points on GBPUSD but left another 50 on the table!

56 points on GBPUSD but left another 50 on the table!

I had a really nice short in the GBPUSD market today with a trailing stop. I closed out early for 56 pips however when the market was retracing.. it retraced 25 points before it fell heavily (another 50 points) to 16500. My actual exit is a trailing stop loss and it would have not hit it before it fell. The old trading adage 'cut your profits short and let your profits run' is a key principle to be successful in trading and I'm annoyed by myself that I broke the rule. The chart is shown be

May 3, 2011 No Comments Full Story

« Older Entries   Newer Entries »