I forgot to mention my new trade. Back into CADJPY! Had I left my previous trades SL a big wider, below 103.60, I’d be sitting on some crazy pips. Would have hit 2 of my TPs
So I went long on CADJPY again. Bought at 105.358. Set my stop at 104.80.
Price is at 105.85 right now. Same question again, where to move my stop. If I moved to my entry, I’d have about a 50 pip SL. I could just close the trade now for 50 pip profit. Or watch it some more as it moves closer to what I had put as another TP at 106.4, That again would be over 100 pips proft.
Using a ATR based SL is still a bit confusing. If I enter on something lower than the daily, am I using that timeframes ATR value, or always sticking with the daily TF ATR, or some multiple of it?
Giant candle down! 4% down. Got some accumulation (?) last couple of days. Double top maybe, but then there’s a higher low, but not a higher high. So mixed signals. Got a couple indicators maybe saying a move up is in the cards.
Order block between .9638 and .9573 identified, it shot up, and it came back down into the block.and now it’s sideways. Potential trade?
Also, I decided to follow forex.com’s suggestion about the EURGBP pair and some UK data coming out this week, with a potential for the pair to move up.
So I put in a limit buy order at .8615. Looking for a 100 pip move to the recent high. Set my SLto the recent low, 50 pips from my entry. Let’s go!
Things like this are very disciplined and helpful. So you are doing everything right, the main thing is to stay as motivated and disciplined so that you keep it up and understand what you are doing it all for now.
Haven’t been able to do my analysis as much today as I liked, but forex.com is always posting something with some nuggets.
So maybe I’ll just watch EURUSD. We should have some volatility tomorrow by 9 AM after the Fed and ECB speeches. Could be interesting to watch the chart real-time while the speech is on going. Haven’t tried that.
Sure, I’ll have to drop it in a spreadsheet. Took a hit last week on EURGBP trade. Moved 25 pips up, but then came crashing down and hit my stop. 2 wins, 2 losses, but still up a couple bucks.
Awesome would love to see! Also, now that you mention it, perhaps I should do the same for mine! Right now I just write it at the end of my trading journal entries.
Haven’t posted to my journal in a bit. Looking for a trade.
Is it crazy to trade EURUSD this week? Stay away from the news they say. CPI coming out this week, and some info from Germany on their economy. I don’t think it’s looking all that great with the oil and gas issues.
And US seems to be feeling some relief. Perhaps watch tomorrow?
Plus, we’re at historic lows right now. Can the bears push it lower?
Thinking back, it was a straight gamble really. Shorted at 1.0027. Minimum order size I could get out with my account size. And I’m watching the EURUSD chart on the 15m and it’s all over the place! I don’t trade the 15m, but it’s crazy to see how much it’s moving up and down.
US inflation came out at 9.1%. 40 year high. That’s not good, but inflation is up everywhere, so Europe will face this issue too And when you’re betting USD or EUR, you put your money on USD right?
Let’s see where this trade goes. Can’t below EURUSD is floating around 1.00.
Should have set a TP on that trade. Possibly could have bagged 75 pips. Instead I lost…23 pips. Pulled my stop in too tight after I was in profit.
What I learned - EURUSD hitting parity was a historic event, and expecting EURUSD to fall further that it did, to the 2002 lows was… too ambitious. Maybe too much fundamentals at work.
