I had an entry for a short position on the GBPJPY with 100 pip stop and limit. Both 15min and 1 hour charts were indicating a sell so I went short at 189.27... It took a couple of hours and hey presto, the market fell through and I bagged my 100 pips!
Last night I saw an opportunity to short the GBPJPY currency pair and I entered at 205.20 with a 200 point target and a 100 point stop order. In the back of my mind, I know that I need to leave these trades running, there have been many occasions where I have closed for 100 to find that the market has moved 500 my way or more! Anyway, I set this trade in motion and went to bed... I woke up to find that the market had moved and throughout the day, went lower... the lowest was 204.00 which was
I got today off so woke up early at 6.45am to log into Simon Grinter's chatroom. If you are able to listen, he offers a real time commentary on the markets and lets you know of the trades he is taking. Today, one of his entries was a short below 107.80 and I took it! I rode the price action 30 points!! Hoorah! The market did go a lot lower however but a profit is a profit! If you want to join or sign up for his free trial, visit http://www.rainbowforex.com/
