I just went long GBPJPY at 174.21 with a 50 pip stop loss and a 45 pip trailing stop.. the market has come off pretty strongly and I am expecting a countertrend bounce as the market seems to have found a temporary bottom between 173.60 and 174.00.. the over trend is down however so this is quite a risky trade. However, if the market does move up, I am expecting quite a handsome reward (that's if I can hold onto the trade!)
Every Sunday, I get a copy of the Sunday Times. The first section I read through is the business section and today, there was an article about supertrader, Greg Coffey of GLG. The big news is that Greg, who earned £150 million last year from his company has quit and looking to start his own firm. Surely, that sort of cash is enough for any man? Anyway, I don't think it was about how much cash he got but the proportion he got. He brought in 60% of his firms revenues yet his bosses t
Hi all, I'm not back to full swing as yet... remember I was talking about the EUR/CAD last night? Well, it did go higher in fact, it went up to 1.4690 and is currently sitting at 1.4641. I should have kept it at the 100 pip limit order when I took profits at 1.4500! I have just gone long USD/CAD at 0.9937 with a 100 pip stop and target, I'll see if I can hold this. The reasoning for the trade starts off by looking at the daily chart. If you look at the stochastics, you can see that it h
