Posts Tagged Forex trading
A few trades this morning..
Firstly a long as you can see from the chart above, I had a trailing 10 pip stop loss.. unfortunately, the trade went bad before it could go anywhere and I was hit with my full 20 pip loss.
Two trades on the GBPUSD, firstly a long at 16018 with a trailing 10 pip stop and my 20 pip stop. The market was rather chopping and did head up to move my stop up 10 pips but it wasn't enough.. it eventually fell and I got stung with a 10 pip loss.
As the market f
March 29, 2011
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![Trusting your Trading System]()
Today was a disastrous day for one of my trading systems. Let me describe below how I usually trade the system. The horizontal lines are my buy and sell lines, if the market goes above the top line, I buy and if the market goes below the bottom line I sell. The stoploss in either case is 20 pips and the limit order or potential profit is 40 pips.
However, you can see today that the market was rather choppy and the short was initiated first but it never hit the limit before it shot up, hit
February 9, 2011
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I forgot that the US markets are not open today due to Independence so perhaps it probably wasn't a good day to trade. Oops!
Anyway, I shorted the GBPUSD at 15120 as it moved below the support line. It dropped 15 pips... I've got a 80 pip stop and a 75 pip target on this. However, it's currently retracing and that's the thing on holidays. Low volume means that it takes less to move the market and could also mean that some traders go stop hunting... that's moving the prices around to take out
July 5, 2010
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