Posts Tagged position trading
Yesterday, I mentioned that I had entered long on the EURCHF at 1.16172. The market initially went my direction hit a high of 1.6235 before retracing. I moved my stop up to entry and it got hit which was a bit unfortunate at the market shot up again and hit a short term high of 1.6278 which is over a 100 pip move. My initial target was 150 points though... anyway, a little disappointing but at least I didn't make a loss.
The chap from Forex Smarts where I pilfered his system recommended takin
May 28, 2008
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I thought I would post where the S&P ended up when I closed my trade early at 1382. I took 2 point when there was 8 for the taking!! Arrgh..
Anyway, it's good to look back on the charts and see where it went wrong. The obvious exit would be when the S&P crossed below the 80 line in the stochastics and the MACD crossed.. this would have been at about 1386 which would have been still, a lot further than where I got out!
May 27, 2008
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I haven't turned on my trading platform for a while but I did so this morning after reading a blog by a 21 year old student (who looks 15 in his picture). He trades the EURCHF and uses a simple stochastics indicator. Have a look here http://forexsmarts.blogspot.com/
Anyway, using his system, there was a long entry at 1.6172 this morning. The market did get to 1.6215 earlier today and then fell back. I am still in the trade with a 50 point stop and a 150 point target price!
Let's see what h
May 27, 2008
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