I placed another trade.. a short at 90.31 as the price action looked liked it was falling and going south.. however, it is current retracing right now. My stop as you can see is around 90.60 with a target price of 89.95. It’s not looking good at the mo but the daily chart is still looking like a short. I may get stopped out but I expect to see the price action to get to 89.00 in the next few days… we’ll see.

Tags: daytrade, forex blog, Forex trading, money blog, shorting, trading blog, usdjpy trading

A successful Forex trade..

I made 45 points on this.. as per my previous post, I mentioned that I was at the gym.. I would have managed to get out a bit earlier when it spiked up.. probably would have got out at around 0.6385 for a further 20 points.. oh well, never mind.

Tags: audusd, currency, currency trade, forex, forex trade, Forex trading, shorting, spreadbet, trading blog

Following on from my earlier FTSE trade of today, I also spotted a perfect entry for the Dow Jones today.. it’s a shame that I didn’t trade it as it would have been extremely profitable.. it’s nice when the markets hit a perfect resistance line and short.. however, these perfect hits are rare and look great if you have executed them in the right manner.. however, more often than not, if you saw this movement, the markets wouldn’t behave.

However, I did short the Dow for a quick scalp trade when it broke the support level at around 11112. I got in at 11099 and got out quickly at 11084… I feel very anxious generally trading the Dow Jones as it tends to be rather volatile and I usually lose more money than make it with this one. However, as I write, the market has gone lower to 11040 so I missed out on almost +50. I generally do not like to trade the Dow due to it’s rather unpredictable nature so +16 is not bad.

Tags: day trade, day trading, daytrade, dow, dow jones, scalping, shorting, shorting the dow, Spreadbetting, trading profits