Baruch's Forex System Journal

AC3 · May 17, 2004

Quote from Chaw:

I am going to place my first ever trade sometime this week.

If anybody has any tips at all, in regards to what day i should start or what i should buy or sell for the first time.

PLEASE help me.
I do not want to lose money on my first live trade.

Thanks Gang!

Sorry i didnt c this earlier ... Best of luck on ur trade ...... if there are any questions pls feel free 2 PM me if u like ..... other then that keep a steady hand and conviction of heart...its ur idea and urs alone.

Chaw · May 17, 2004

Quote from AC3:

Sorry i didnt c this earlier ... Best of luck on ur trade ...... if there are any questions pls feel free 2 PM me if u like ..... other then that keep a steady hand and conviction of heart...its ur idea and urs alone.

AC3,

Hey thanks for your reply!!

nycderivtrader · May 17, 2004

Quote from nycderivtrader:

Steve,

Keep an eye out for a quick 20-30 drop- news and market issues seem to (in my view) already have been accounted for in this two day rally.

We are seeing the pair move horizontally now with little fluctuation (20-25 pips), waiting to break out of this channel- people just don't seem to know what to do.

I think that there is greater risk in going long than short and see in the short term (over night, tue morn) a possibility to pick up some pips on the way down.

NYCDT

Short EUR/USD is a position I'm currently looking at as well. I don't have any profit targets in mind, but a pullback/correction seems to be occurring, or gearing up to happen.

Steve,

I got stopped out of my trade at 24 but bought the bullet and got back in the game at 24. currently at 74/78

SteveL91 · May 17, 2004

Quote from nycderivtrader:

Steve,

I got stopped out of my trade at 24 but bought the bullet and got back in the game at 24. currently at 74/78

Shaping into a nice trade for you. I still haven't taken any positions, but I'm looking into a few, including short EUR/USD.

nycderivtrader · May 17, 2004

Quote from SteveL91:

Shaping into a nice trade for you. I still haven't taken any positions, but I'm looking into a few, including short EUR/USD.

I think that if it comes back up to 1.20, that may be a good entry point. There should be some psychological resistance there.

NYCDT

SteveL91 · May 17, 2004

Quote from nycderivtrader:

I think that if it comes back up to 1.20, that may be a good entry point. There should be some psychological resistance there.

NYCDT

I may actually jump in now. I think there may be a rebound on the hourly chart, but the longer term charts (2,3,4 hour) are showing a very good chance of EUR/USD rolling over and taking a nosedive.

jrichman23 · May 17, 2004

thanks Baruch, I just wanted to let you know I have been using your system for a while now and have made considerable gains. I really appreciate the simplicity of it. It made me about 250 pips on sunday, and so far today about 100+ thanks

Baruch · May 18, 2004

Quote from jrichman23:

thanks Baruch, I just wanted to let you know I have been using your system for a while now and have made considerable gains. I really appreciate the simplicity of it. It made me about 250 pips on sunday, and so far today about 100+ thanks

Hi jrichman23,

You are welcome. Nice to know.

In which pairs?

Baruch · May 18, 2004

Quote from Chaw:

I am going to place my first ever trade sometime this week.

If anybody has any tips at all, in regards to what day i should start or what i should buy or sell for the first time.

PLEASE help me.
I do not want to lose money on my first live trade.

Thanks Gang!

Hi Chaw,

Trade my system. jrichman23 made about 350 pips with it the last two days.

Baruch · May 18, 2004

"Learn how to take your losses quickly and cleanly. Don't expect to be right all the time. If you have made a mistake, cut your losses as quickly as possible".