Posts Tagged trading blog
I got my 90 pips from the trade last night. As you know from my previous post, I had entered the market at 1.2370 with a stop at 1.2460 and looking at a 1:1 risk to reward trade which meant a limit order at 1.2280.. ie a 90 pip stop with a 90 pip target.
The two spinning tops were the key here showing that there was selling at the levels, that coupled with the downtrend movement made me feel it was a good short play and I got rewarded.
So, a decent start to my trading again after all t
August 9, 2012
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The Euro forex pair looks like it's been downtrending for a while and the recent daily price action has printed two spinning top patterns. This shows some indecision in the markets and to me, looks like we may have reached a short term high before resuming a downward trajectory. In fact, todays price action was mainly south with a little pullback.
I've shorted this at 1.2370 with a stop above yesterdays high at 12460. Looking for a minimum of a 1:1 trade here.. let's see how we get on!
August 8, 2012
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It seems as though it's been a long time since I last trade and indeed it has... I've been extremely busy with moving homes and running various projects. The great thing about the markets is that they are not going anywhere... they are always here and I can always trade. However, a bit like exercise.. if you don't keep it up, you get unfit! However, if you have put in a lot of time into trading, the rot isn't so bad so you should be able to get back into it.
As an experiment, I'm rather int
July 31, 2012
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