Plain Forex Trading Club

There were no dramatic price moves today. We made 3 trades and closed them all at break even prices.

Whenever in doubt, go back to basics. From experience I can tell you that the main reasons that traders fail are: 1. Lack of a complete proven trading system. You must have a proven profitable trading system with clearly defined rules for entries and exits. There is simply no way around it. 2. Pure money … [Read more…]

We broke even on Friday. Unfortunately, we cannot simply chalk this trade up as a break-even trade because for some of our subscribers the updated stop-loss orders were triggered and they incurred a small loss of -36 pips. Sometimes this discrepancy might happen due to differences in quotes and slippages between brokers.

The markets are not moving anywhere this morning in anticipation of the the upcoming FOMC meeting at 2 p.m. EST today. There is a wide split of opinions between the eventual outcomes of the meeting. Markets are totally uncertain as to whether interest rates will be raised or not. Therefore we will refrain from trading … [Read more…]

We bought USDJPY today and were stopped out with a small profit of +16 pips. This is the actual signal: From: Dave Hughe <plainfx@gmail.com> Date: Wed, Sep 16, 2015 at 6:06 AM Subject: September 16 To: USDJPY Buy 120.50 SL 120.24 P1= 120.72 P2= 120.86 Below are the copies of emails with updated stop-loss orders: … [Read more…]

We made one trade on Monday, which was closed at the break even. Today we shorted NZDJPY pair. The trade did not work as expected and we got out at a loss of -45 pips.

There were no signals triggered today. Therefore the total for this week remains at +101 pips.

We made 2 trades today and closed both at break even prices.

We made 3 trades today and closed all of them at break even prices.