Posts Tagged day trade
Last night I sat and watched the Forex markets and there was a spike up showing strong support at around 135.65.. this also coincided with a trend line in the 4 hour chart (as below)... this was a cue for me to go long and I did at 137.02
I put a 100 pip stoploss and 100 pip target price and went to bed.
When I woke up, I saw that I was within 6 pips of being stopped out and that my trade had gone on to make a profit! Phew.. now that was lucky, usually I'll be stopped out first before
March 3, 2009
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I really seem to be getting the hang of trading the forex markets lately and my account is at all time highs... long may it be like this. I don't really know if it's me who has improved or simply that the markets are favouring my style of trading... anyway, I am happy with how things are working out except for the fact that although I enter quite well, I seems to be taking profits far too early still... here are my trades for today...
I went long the USDCAD forex pair at 12515 and close
December 2, 2008
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If you look at the 1 min chart of the Dow Jones below.. you can see that the market in the yellow box wasn't doing too much.. however, I was trading in this region, selling and buying when I should have been doing anything. I saw that the market had dropped and I was expecting to see a bounce back up to around 8500 at least... however, the adage is 'trade what you see, not what you think' and I failed miserably.. in total, I made two trades in this region, both lost to the accumulative amount
December 1, 2008
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