Posts Tagged foreign exchange
I have had 8 winning trades in a row and I'm starting to get a little nervous. Generally I know that I am about 60% correct so a loss is due at some stage.... each time I am trading I am aware of this and this makes me a little nervous. Anyway, I went long the GBPJPY at 14581 when it breached the downward trend (as indicated in the chart below). My stop was at 14545 and my first target was 14620.
The market shot up and I got nervous... it shot up too quickly and with a surge like this, I expe
April 30, 2009
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I had placed a short for the USDJPY Forex pair two evenings ago at 98.24 with a stop at 99.16 and a target of 96.74. The 4 hour charts look as though they had run out of momentum on the uptrend which corresponded to similar looking peaks the over the past few weeks. My stop was place in light of the recent peak around the 9th of March and the target was a level where there was support found on the 6th March. There was not much movement for a day or so and when the market moved upwards, I was exp
March 19, 2009
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For those following, I mentioned that I signed up for the free 30 day trial of the FXCM System Selector and attached the TrendEscape trading system to it for the GBPUSD and GBPJPY forex pairs. Yesterday when I checked, I was about $2000 down from the demo portfolio.. it started at $100,000. The last trades where a short of both the two pairs which amount to losses.
Right now, the account has dropped further.. another $1000 and the current live trades are slightly down at $100 loss or so....
February 27, 2009
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