I had an entry for a short position on the GBPJPY with 100 pip stop and limit. Both 15min and 1 hour charts were indicating a sell so I went short at 189.27... It took a couple of hours and hey presto, the market fell through and I bagged my 100 pips!
The Daily FX website have a new Forex alerting service.. it's currently on a free trial. I can't personally recommend it as I've not tested it myself (I only heard about it today) but feel free to have a look.. in fact, let me know how you are finding it. Go to http://www.fxcm.com/trading-signals.jsp and sign up. They trade 3 strategies; breakout, range and momentum against all the currency pairs. Looking down the Trade Details box, the P/L is currently showing: +108, -113, +701, +93,
The short entry was a good one.. however, in light of the strong uptrend I wanted to get out as soon as it hit any resistance and I got out at the round number 11600. The stochastics were also way into oversold territory so I got out and grabbed a measly 10 points. The market however, fell further and is currently at 11583... trust my luck!! The hardest thing I think about trading is knowing when to get out.. I think it's much more difficult than entering. The other day, I gave up over 1
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