Djer's Forex Trades

Quote from cable:

Good stuff. Keep at it!

Are you ONLY using an SMA to determine your entries and exits? Most people (in other words, me) try to use a couple tools to confirm each other (in order to weed out the weaker signals)...

I'm following your journal closely.
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Hi Cable,

Thanks for the positive comments.

At this time I'm only using the 20 SMA on the 30 min. chart as a basic guide. I found with equities I was too wrapped up in indicators that I ended up hesitating on entry and exit. This time I have vowed to keep it simple - so far, so good. Nevertheless, I would like to hear what indicators you are using and how you choose your entries and exits. I'm always open to new ideas - especially ones that work :D

Jer
 
GBP/USD - Stopped @ 1.6075 +16 pips

Total since starting thread -10 pips


I must say, that I'm seeing a pattern. Whenever a candle is 35 pips or greater on the 30 min chart, I will close and reverse my position. It seems that a sharp reversal fabricates after one of these candles appear.

Jer
 
I stepped away for a bit, and 3 of my 4 trades were stopped out. Boy, am I glad this is a demo account while I learn this market.

USD/CHF - Stopped @ 1.3460 -50 pips
GBP/USD - Stopped @ 1.6117 -50 pips
EUR/USD - Stopped @ 1.1391 - 50 pips

Total since starting thread -160 pips

I've seen over 50 pips of profit a couple of times, only to have it retrace then get stopped out. I will modify it to 25 pips with a target of 50 pips for all pairs. This give me more cushion against the above from happening again - or so I hope :D

Jer
 
GBP/USD - Short @ 1.61.57

Reason: Bullish 35 pip candle on 30 min. has appeared - strong probability of a retrace here.

Jer
 
Ok, I need to take some time to develop a better strategy. This is quite different from equities and has my head spinning a bit more than normal. :eek:

Plus, I am leaving for a three week vacation to backpack Europe. When I get back I will refine my strategy and continue to post. Maybe being in the UK and E-12 will give me some insight on how to approach the pairs... :cool:

Good Trading,
Jer
 
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