By now we know that as a part-time Forex trader we can take 3 types of action: 1. Buy a currency pair 2. Sell a currency pair 3. Just watch from the sidelines Do not underestimate the third action, which is no action at all. One of the major sins of which all traders are … [Read more…]
EURUSD Buy 1.3622 SL 1.3579 P1= 1.3644 P2= 1.3664
AUDCHF Buy 0.8281 SL 0.8238 P1= 0.8296 P2= 0.8305 EURNZD Buy 0.6711 SL 0.6688 P1= 0.6734, P2= 0.6748 USDCAD Sell 1.0566 SL 1.0603 P1= 1.0552 P2= 1.0534
I didn’t have much time to trade today and missed a few opportunities. But that’s the beauty of Forex. It’s always there for you. Never chase a trade, another one is just around the corner. Anyways, let’s make it more fun and calculate profits/losses in dollars as opposed to pips. Let’s see how much money … [Read more…]
Cancelled all EURUSD orders. USDCAD 18 pips of profit, the other 2 positions SL hit at break even.
Trading 2 units with P1 = 20 pips and P2 = trailing stop or end of day EURUSD Sell Stop 1.3578 SL 1.3612 P1= 1.3558 Buy Stop 1.3612 SL 1.3578 P1= 1.3632
USDCAD P1 is filled. Moved SL to break even at 1.0566 Notice how the price just touched 1.0585 and immediately pulled back.
There are important news for USD coming out at 8:30am and Corporate profits for CAD USDCAD Buy 1.0566 SL 1.0536 P1= 1.0584 P2= 1.0594 EURUSD is not clear yet
USDJPY hit the stop at 101.63 for a total loss of 117 pips
The minimum deposit amount and margin percentages vary between different brokers but much more important are your objectives and trading style. For our particular case the reasoning is as follows:1. All trades shown in this blog are based on some form of technical analysis.2. Each order is accompanied by a Stop Loss order, which limits potential … [Read more…]