Posts Tagged forex
![Winning Trades which make no Money]()
This was me today... I put in an order for a buy on the GBPUSD at 16018 or a sell at 15956 with a 20 pip stop and a 40 pip target.
As you can see from the chart, the GBPUSD shoots up and actually goes beyond the 50 pips...
However, I made no money on this trade at all. At first I got really annoyed, an easy 40 pips in the bag and my broker has screwed me over.
I checked my emails and can see that the order was being placed, however, I had forgotten to fund the account properly and t
November 10, 2010
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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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![GBPUSD trading system today]()
I was a little bit disappointed with how the 4-to-7 GBPUSD system worked today... my short was around 14727 and it didn't really go anywhere.. it just went and hit my stop exactly before it reversed and it would have made 30 pips.
The long trade did activate and get my 30 pips but I still ended up 20 pips down.
June 22, 2010
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