Posts Tagged Trading
I had a really good week this week.. every day being a winning day until today (admitedly I didn't trade Monday)! This was quite disappointing as I was hoping to close the week on a roll. Anyway, nothing is guaranteed in trading, so long as I win more than I lose, my account balance will continue to grow.
My trade today was a short on the USDJPY, the longer term charts, the market was going south so I was looking for short trades. The market went down a little before it reversed. Looks like I
March 30, 2012
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Today my focus was getting short on the GBPJPY forex pair. I decide this by looking at the daily and 1 hour chart. This gives me a rough idea where I think the market is heading. This is purely a visual thing to see the direction of the trend... nothing complicated.
What is a bit more complex is looking for an entry after you've decided which way you want to trade.
I've annotated the chart slightly differently today and I'll go through it now.
So after deciding to go short in the
March 28, 2012
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Sometimes the simplest trades are best and today was once such day. I had a support line drawn at the lows as you can see in the chart below and as the price hit it for the third time, I went long at 3153. My stop was at 3145 so only 8 points away and I took profit at the previous top. A nice and easy 30 points!
March 23, 2012
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