EUR/CAD short from 1.3110
Day Trading the Forex for Profits...
- Thread starter spinfoiltrading
- Start date
EUR/CAD, risking 0.75%, stop is at 1.3129
first target at 1.3085,
2nd target at 1.3060
will take 3/4 of the position off at 1.3085, let the last quarter run to 1.3060
Will probably be my only trade tonight.
first target at 1.3085,
2nd target at 1.3060
will take 3/4 of the position off at 1.3085, let the last quarter run to 1.3060
Will probably be my only trade tonight.
And...tonight is exactly why I don't risk much on friday.
EUR/CAD stopped for 0.75% loss
I will start reviewing previous fridays, and start recording my profitability from one friday to the next for the next several months.
I suspect friday is only a marginally profitable day for me, and probably many other forex day traders. I may eliminate it from my trading schedule altogether in the future...but I will conduct my analysis first to determine if this is the correct course of action.
Finished this week up over 5%. Slightly disappointed, my last 5 weeks have been all over 6%, but, all in all, not a bad week.
EUR/CAD stopped for 0.75% loss
I will start reviewing previous fridays, and start recording my profitability from one friday to the next for the next several months.
I suspect friday is only a marginally profitable day for me, and probably many other forex day traders. I may eliminate it from my trading schedule altogether in the future...but I will conduct my analysis first to determine if this is the correct course of action.
Finished this week up over 5%. Slightly disappointed, my last 5 weeks have been all over 6%, but, all in all, not a bad week.
EUR/AUD short from 1.3790
risking 0.75%, at a 16 pip stop.
1.3771 first target, taking 3/4 position
1.3761 2nd target, taking 1/4 position.
1.3771 first target, taking 3/4 position
1.3761 2nd target, taking 1/4 position.
Reduced position by half at break even, moved stop up 2 pips. Now only risking about 0.35%
Hi Greg, glad to see you still do well with your trading.
Maybe we can discuss a bit your trades and learn from each other.
For this trade I was wondering how did you set your target ?
I could have taken this counter-trend short, but for a 10 /15 pts scalp max.
Looking at the 5min chart I can see a clear support around 1.3780.
SL on EUR/AUD now moved to Break Even.
Now have a no risk trade...and will let the market do the rest.
Worst case, finish the week up about 5%.
best case, may make approx another 0.55%
Now have a no risk trade...and will let the market do the rest.
Worst case, finish the week up about 5%.
best case, may make approx another 0.55%
First target hit, made almost 0.25%... closed out half of revised position. Next target, 1.3755, taking half of what I have left, and final target 1.3740.
Stop is at B/E plus spread. If both targets are hit, tonight will end up being nearly a break even night.
Stop is at B/E plus spread. If both targets are hit, tonight will end up being nearly a break even night.
Changed my mind on final targets...because I really like the price action on the down move on EUR/AUD trade.
moved 2nd target to 3745, and final target down to 3702
Stop is at break even plus 2 pips.
It's easy to be bold on the final day of a successful trading week, when you have a Zero risk trade.
Since being bold is often more difficult... be bold when it is easy
What have I got to lose...right?
moved 2nd target to 3745, and final target down to 3702
Stop is at break even plus 2 pips.
It's easy to be bold on the final day of a successful trading week, when you have a Zero risk trade.
Since being bold is often more difficult... be bold when it is easy
What have I got to lose...right?