Posts Tagged currency trading

Trading the GBPUSD – stupid day for mistakes

Trading the GBPUSD - stupid day for mistakes

Today was particulary annoying...  I had only set up one trade to go for 60 pips with the stop loss move to entry when it moves 30 pips in the desired direction..... except that I didn't move the stop loss. I also did do my usual 30 pip trade! Now, I must tell you that over the weekend, we had a system crash in my normal 9-to-5 job... this result in us working the whole weekend... I'd had very little sleep and in hindsight, when fatigued you need to be careful trading..  simple mistakes can

April 19, 2010 No Comments Full Story

Dont go chasing the market – GBPUSD got burnt

Dont go chasing the market - GBPUSD got burnt

The chart is a 5 minute chart of the GBPUSD. I had woken up later today than usual to see that the market had moved. The two horizontal lines show where the long and short entry should have been but as I was late and saw that the market had already moved 25 points away and that I was feeling that I missed out on the short.. I entered a short manually... whilst it did move 30 pips in my direction which would have usually been bagged..  for some reason, my brain wanted more (I had a target of 100

April 16, 2010 No Comments Full Story

GBPUSD trading – one win, one loss but no money lost!

GBPUSD trading - one win, one loss but no money lost!

Hope you like the title of the post! It's my attempt at some rhymning! I hope my chart diagram makes sense below. My strategy now is to trade two lots at the entry price, one has a target of 30 pips. The other has a 60 pip target which, when the first trade hits it's target moves the stop loss to entry (to hedge from any loss) and then hopes to grab the 60 pips. Well, the first target was hit for 30 pips.. yay! The second trade still runs but the stop moves to entry. However, the market sp

April 13, 2010 Comments Off on GBPUSD trading – one win, one loss but no money lost! Full Story

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