Consistent FX Trading

[rafy]

I don't get arrows in my charts

[rafy]

I've figured it out now, sorry.

[elang]

TRADE #015

START

~GBP/USD~
14.06.2007

Entry - 1.9683
Lots Traded - 2.0

Target 1 / 104 PIPs - 1.9579 (LIVE)

Stop Loss / 33 PIPs- 1.9716 (LIVE)

TRADE TYPE: 100% Discretionary
(NO Indicators / Entirely TA Based)


STATISTICS

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: +1109 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Loss Since Trade #001 /16.03.2007/: -290 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL P/L On Current Trade:
(0) PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SUM TILL DATE: +819 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

NOTES:
......

[xscape321]

He's back!!!

[mike1349]

Glad to see you again.Keep it up

[elang]

TRADE #015

END

~GBP/USD~
14.06.2007

Entry - 1.9683
Lots Traded - 2.0

Target 1 / 104 PIPs - 1.9579 (NOT REACHED)


Stop Loss / 33 PIPs- 1.9716 (TRIGGERED)

TRADE TYPE: 100% Discretionary
(NO Indicators / Entirely TA Based)


STATISTICS

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Profit Since Trade #001 /16.03.2007/: +1109 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL Loss Since Trade #001 /16.03.2007/: -323 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
TOTAL P/L On Current Trade:
(-33) PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SUM TILL DATE: +786 PIPS
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

NOTES:
No comment, its just one of those trades, gone bad.
I cant win them all, so i make sure i have a small Stop Loss and Bigger gains.

I believe my trading method yields more good trades than bad ones, so i rely on that to even out my trades and put me on top of the game in the long run on a monthly and yearly basis.

Nothing to write home about.

I had two other trades i didn't post about, you may take a look at them in the picture i've just posted.
As you can see i might have lost 33 on GBP USD, but im over 230 Pips on on my other two trades, so i can't even see my 33 loss earlier.

The 4H Candle is opening soon and if it remains above that trend line on GBP USD, i will be purchasing 1 lot.

[elang]

As mentioned before if the H4 Candle opened over the trendline i've drawn i would buy and i've done just that.

My SL, will be 50% of my target which is around the 9873 area for the moment.

I will be using my EMAs to also monitor trend health and determine if i can stay in longer or have to quit earlier.

GBP / USD (TOP RIGHT CORNER)

Regards,
E. Lang

[elang]

Hello Guys,

What we have here isn't too different from where we ended of last week.
I've maintained all my positions open.

EUR USD:
We broke over H of 3362 and have 2 H4 candles open over the recent trend line, so things are bullish for the moment.

My current TP is set at 1.3465. SL is around the 1.3327 area.

Generally we are going to need to take out 3525 and 3551 to proceed higher. If price action remains in good bullish condition i may hold my position till the test of these highs.

GBP USD:
We've broken over the trend line i've drawn; thats bullish, we will be aiming for a take out of R now around the 1.9781 area and the FE 61%.

My profit taking level will be 1.9873.

Generally to move higher we will need to break 1.9949 / 1.9960.
My SL is around the 1.9721 area.

GBP JPY:
We've broken over the trend line i've drawn on this chart as well (Bottom Right)

I was late in on this trade, but i was happy to buy in under R as the momentum and EMAs looked promising.

TP is 246.31. SL: 239.71

[elang]

EUR USD:

The price is about to test 50% 3406, i will be monitoring this carefully.

We broke over H of 3362 and have 2 H4 candles open over the recent trend line, so things are bullish for the moment.

My current TP is set at 1.3465. SL is around the 1.3327 area.

Generally we are going to need to take out 3525 and 3551 to proceed higher. If price action remains in good bullish condition i may hold my position till the test of these highs.

GBP USD:

I'm very happy to say that price managed to break out of the high of 9781 > 9832 61%, might pose a bit of a problem so i will be monitoring things carefully here to analyze the market reaction.

My profit taking level will be 1.9873.

Generally to move higher we will need to break 1.9949 / 1.9960.
My SL is around the 1.9721 area.

GBP JPY:

Things are looking fine and dandy here and we are steadily moving towards TP of 246.31

I was late in on this trade, but i was happy to buy in under R as the momentum and EMAs looked promising.

TP is 246.31. SL: 239.71

[elang]

EUR USD having tested 50%, has bounced off at the moment with some profit taking.

To be on the safe side, i've booked 50% of the profits by moving my SL up to half of my current gain. In a good scenario i don't plan for the price to reach that, but if it does i want to be able to pay for the time i've dedicated to this trade and at least pay spread costs.

GBP USD is hovering around 61% at the moment it looks ok, but considering that the general trend is DOWN WARDS and the current price level being C in an ABC corrective pattern i'm begining to wonder whether we have a top forming here before another bearish impulse back down past the lows of 1.9622.

To be on the safe side. I've moved my SL to +5 PIPS to cover spread should it loose. I don't want to book any profit just quite yet as this trade still needs breathing space.

GBP JPY is doing just fine, no need to babysit this one at all i'm pretty sure we will be hitting 246.31 soon.

Regards,
E. Lang