Coastalfx Journal

[coastalfx]

There are no new trades today. Our two open positions are taking heavy
losses as our countertrend has now run deep. These loses are not
completely unexpected.

4 of our positions are simply on the sidelines waiting for the oppurtunity
to move into the market. I have experimented with a hedging strategy
that I may use in a similar market condition in the future. It's
based off of opening a trade in a countertrend with a tight stoploss
when the trade breaks key support levels on the charts.

In the mean time we continue to watch the charts from the sidelines.

Have a great day,
Jackie

[coastalfx]

I woke up to see we have taken a beating in the USD/CAD and GBP/USD.
It's unbelievable and it lookes as if our 1000 pip stop/loss could
very well be hit.

I have experiemented with some hedging strategies that have worked
well in my personal account but I have not shared them simply because
they are experimental. If our stops get hit we will be come out of the
market and reassess the market movement before re-entering.
The next couple of trading days will be very interesting.

Jackie

[coastalfx]

No one ever said forex was easy money. Our GBP/USD trade hit it's
1000 pip stop/loss which we knew would eventually happen. If you
followed proper money management rules that was at most a 10% loss
on your account. Over all the market has been bullish on the dollar
we do expect this to reverse and we will watch for the reversal. We
have already seen a big slow down from the previous week.

One pair has reversed and we have placed a trade on that pair.
Sell Stop USD/JPY 108.50 with a 500 pip stop/loss. Only risk one precent
of account balance on this trade.

Have a good pippin day,
Jackie

[therbcoe]

Originally Posted by coastalfx

No one ever said forex was easy money. Our GBP/USD trade hit it's
1000 pip stop/loss which we knew would eventually happen. If you
followed proper money management rules that was at most a 10% loss
on your account. Over all the market has been bullish on the dollar
we do expect this to reverse and we will watch for the reversal. We
have already seen a big slow down from the previous week.

One pair has reversed and we have placed a trade on that pair.
Sell Stop USD/JPY 108.50 with a 500 pip stop/loss. Only risk one precent
of account balance on this trade.

Have a good pippin day,
Jackie

Hi Jackie,

I was just reading through your blog while on vacation at my wife's parent's winter home. I was genuinely enjoying your saga and have just come upon an abrupt story discontinuation right when things were getting incredibly interesting.

Are you planning in picking this up any time soon?
Even an update would offer some comfort.

Thanks bro,
RBCOE