Posts Tagged forex
I had placed a short for the USDJPY Forex pair two evenings ago at 98.24 with a stop at 99.16 and a target of 96.74. The 4 hour charts look as though they had run out of momentum on the uptrend which corresponded to similar looking peaks the over the past few weeks. My stop was place in light of the recent peak around the 9th of March and the target was a level where there was support found on the 6th March. There was not much movement for a day or so and when the market moved upwards, I was exp
March 19, 2009
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When I started to learn you trade, you naturally seek out what other people say.. unfortunately, when it comes down to what peole do say to start with, it's mainly share tips.. this is exacerbated by the fact that a lot of people who come into trading are looking for a fast way to make a quick buck... unfortunately, trading does not work this way...
Trading actually made me learn a hell of a lot about myself, I learnt about controlling my emotions and also learnt about myself as a person... a
March 16, 2009
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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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