Posts Tagged Forex trading
One of the reasons why I post my entries and exits is because it doubles up as my trading log of what I'm doing. I can learn from my mistakes (hopefully) and this should in the long term make me a better trader.
Today I got some good entries but I didn't follow my gameplan which would have left me still in the trades. This was for both the below trades GBPUSD and GBPJPY.
I had entered both short. The GBPUSD I entered on Friday morning and I didn't feel completely confortable with it as Fri
July 18, 2011
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For those who read yesterdays post where I had missed out on a nice 55 pip profit on the EURUSD as my system had not identified the exit went to hit the stop target which meant a 28 pip loss overall is rather annoying. This actually means that your account, if you take a nominal starting account of 100 for example, was 155 if I had closed when I thought I should have closed to 72 after the stop was hit. You can see that this means that in fact, I lost an overall of 55 + 28 = 83 pips which is a l
June 15, 2011
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A trade that I still have open is the one below. I had went long at 14438 earlier today on the EURUSD and saw that it had failed to go above 14500 and it did make me think if I should close the trade for a healthy 55 pip profit. However, for this trade, I was looking at the 4 hour and the Daily Charts to gauge an entry and they are still telling me that the market is still in an uptrend... I sure hope so. As you can see from the below chart taken at 22:10 UK time, the price action has fallen all
June 14, 2011
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