Posts Tagged trading forex
I thought I'd post my trade of last week and also talk about what has happened over the last couple of days with the Euro market. It's important to review looking back to help formulate future plans when trading.. it is something which one needs to do all the time to ensure that you're on top of your trading. Anyway, my initial plan was to hold onto the trade for as long as possible and bring the stop loss down to the high of each day. This would then help lock in profits and give enough roo
January 7, 2013
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So for those who follow my Twitter feed, you'll note that I shorted the Euro (EURUSD) forex pair last night. The reason why I went short was because you can see that the bullish momentum seemed to have come to a halt... no more upwards movement. Then we got this massive bearish pinbar and that was our cue. I only held the trade from last night but as you can see, it fell like a stone. I don't like hard movements like this as it increases the chances of a pullback before a further movement so
January 3, 2013
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So looking back on the trading week where we made profit but a lot less than what it could have been. I had mentioned that I wanted to bring my stop to the low of each daily candle but was unable to do this. I took 80 pips on EURUSD and 40 pips on EURJPY.
If you look at what happened with EURUSD, you can see where I entered and exited:
I got out at 13000 as it was a round number and the shorter timeframe charts showed the resistance preventing the price from moving above this point.. h
December 15, 2012
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