Posts Tagged trading analysis

GBPJPY Forex trading – luck on my side!

GBPJPY Forex trading - luck on my side!

Last night I sat and watched the Forex markets and there was a spike up showing strong support at around 135.65.. this also coincided with a trend line in the 4 hour chart (as below)... this was a cue for me to go long and I did at 137.02 I put a 100 pip stoploss and 100 pip target price and went to bed. When I woke up, I saw that I was within 6 pips of being stopped out and that my trade had gone on to make a profit! Phew.. now that was lucky, usually I'll be stopped out first before

March 3, 2009 No Comments Full Story

GBPJPY trade – detailed trade analysis

GBPJPY trade - detailed trade analysis

My trading of late hasn't been particularly good..  I know I haven't updated the blog with these trades but in total, I had traded 6 times with a total loss of around 500 pips! Ouch! Anyway, last night, I sat and spent a lot of time thinking... where did I go wrong? What happened to the success I was having? I think the key to being successful is to be adaptable... the trading rules change when the markets change.. you need to have a trading strategy for trending markets and ranging marke

February 27, 2009 No Comments Full Story