Posts Tagged forex

Massive moves on the Yen pairs

Massive moves on the Yen pairs

Today, we saw massive moves on the Yen pairs. USDJPY had gone up around 250 pips and the GBPJPY around 600!! On the 2nd of April, I had put on a long for the USDJPY pair after it had bounce off support. I saw that the longer term trend was up but the market was going through a retracement.. I thought that this was an opportunity to go long so I did. I set my stop at 100 pips which was below the previous low and a target of 100 pips also for a 1:1 risk reward trade. As you can see from the

April 4, 2013 No Comments Full Story

Trading GBPJPY – Frustration and Trading Psychology

Trading GBPJPY - Frustration and Trading Psychology

The GBPJPY trade. I went long GBPJPY the other day and initially, we got a great move.. up 50 pips. I expected the movement to go up much more and 50 pips is a relatively small move in the GBPJPY market. In the afternoon, the price action stalled and fell and then bounced. I felt that the price action wasn’t clean and as a result I closed off the trade with an approx 50 pip loss as I anticipated uncertainty. This morning, there were further falls and I felt great that I had got out of t

March 20, 2013 No Comments Full Story

The Dilemma of Trading Exits – I left behind Huge Profits today!

The Dilemma of Trading Exits - I left behind Huge Profits today!

Something which is really bothering me at the moment is the dilemma of trading exits...  this has been something which I've been trying to work on for a long time but I can't seem to get it right. I know that there is no right or wrong but I am currently toying around with two exit strategies and not being consistent with my approach. As a result, the dilemma of trading exits has become really frustrating and I'm afraid that if I don't get it sorted out, my trading isn't going to reach the next

March 7, 2013 4 Comments Full Story

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