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Bought GBP/JPY at 158.60 Let's see now, even 10 pip profit would be good...

Yep, I also like to scalp a few currency pairs between 1PM and 3PM on Fridays, some interesting things could still happen before the Forex market closes for the weekend and the New York brokers hit the pubs... :cool:

As expected, the EUR/JPY tested the important support level (1.3130) for the second and last time at 1 AM (New York time) and jumped 100 pips higher.

+50 pips, moving the stop to break-even.

Listen, it's extremely simple: backtest your system with 0.5% risk per trade, then 1%, 1.5%, 2%, ...5%, ...., 100% and you will get the optimal value to risk per trade. All the rest is just bar conversation.

Absolutely correct. In fact, with the right exit strategy, we can make money even if the buy/sell entry points are totally random.

Well, the daily range of the EUR/CHF is ridiculously small these days, as you can clearly see on any daily chart. And as you probably know, to make any real money in this business the average daily range of the financial instrument you are trading must be large enough, otherwise you are just...

On the other hand TradingJournals, this type of chart formation that the EUR/JPY is making right now is rather bearish, at least in the short term (you will need to wait for the breakout first of course), take a look...

If EUR/JPY ever goes up the next stop should be around the 131.95 area, a strong magnet as far as I can tell from the charts. Beyond that I have no clue TradingJournals. I never try to predict the future, I just follow the signals that my system is generating, right here right now. By the...

Careful though, the EUR/JPY has hit a strong support area...

First of all here are the currency pairs I am following on a daily basis: EUR/USD USD/JPY GBP/USD USD/CHF AUD/USD USD/CAD NZD/USD EUR/JPY EUR/GBP EUR/AUD EUR/CAD EUR/NZD GBP/JPY GBP/CHF GBP/AUD GBP/CAD GBP/NZD CHF/JPY CAD/JPY NZD/JPY AUD/JPY AUD/CHF CAD/CHF...

The ECB decision was good for the eur/usd short sellers but the trader should always keep in mind that the trend could reverse at any moment and go the other way. For example, a close above 1.3450 on the EUR/USD (1h chart) could mean that the "party" is over. In trading always expect the...

My exit point is dynamic not static, even though I always book the first 20 or 25 pip profit (when the market is slowly moving in my favor) or the first 50 pip profit if the market makes a rather sudden move, like yesterday on the EUR/AUD. Always put something in your pocket first and let the...

I am with you on that one, short the EUR/USD at 1.3422. Possible first target at 1.3280

Out at 1.6940 for a 10 pip profit, too tired to baby-sit that one, enough Forex for today, off to bed now Zzzzzz....

Short the GBP/AUD at 1.6950 This is a scary counter-trend trade indeed :eek:

Thanks TradingJournals. Out the EUR/AUD at 1.4252, the Australian dollar is starting to print a few reversal patterns so why bother for a few extra pips. Never get married to a position (even a profitable one), that's one of my trading rules.

Here is what just happened on the EUR/AUD (15 min chart), and still counting :) Excuse me for a moment, I'll be back.

Thanks Visaria. Well time for a Martini (shaken not stirred of course) I guess :)

Keep going boy, keep going!!!! YES!!!!