EUR/NZD speculation

[farmerjohn1324]

I have entered a trade based on some information I have gotten here. I now know that I should try to trade with trend and not try to predict reversals.

To me, 2 weeks is the timeframe I chose to identify a clear trend and I used hourly charts.

I bought EUR/NZD based on this. The trend has been getting a little more horizontal lately, but maybe it's just a buying opportunity rather than reversal.

I also have to take into consideration the spread of 40, which is about $120 I start in the negative.

Not sure if this is sound reasoning. And not sure if I will have a false positive if I win.

 

[farmerjohn1324]

I placed stop loss at 1.703 and take profit At 1.72.

Right now, I'm up 125 NZD (about $80usd). I'm tempted to just close it out to get this profit because I haven't been profitable on a trade in a long time. But I'll keep it going.

 

[remogul92]

Sideways markets can be tough on profits. Good luck in reaching your target

 

[farmerjohn1324]

I entered a new trade. Selling EUR/USD. This is a more clear downtrend. And it's still down if you scroll back further.

 

[farmerjohn1324]

I entered a new trade. Selling EUR/USD. This is a more clear downtrend. And it's still down if you scroll back further.

I'm already profiting $115. But I'll let it run and see what happens.

 

[farmerjohn1324]

I entered a new trade. Selling EUR/USD. This is a more clear downtrend. And it's still down if you scroll back further.

Closed out for a $929 profit!

Not bad for a few hours of doing nothing. All I did was look at different currency pairs until I saw one with a clear trend over the past 2 weeks. Then, I went with the trend and placed SL and TP. Because as you all know, I can't watch charts all day!

I made $929 in a few hours on an initial investment of $10,000. I'm feeling so confident about this, I might make it real money soon. This was still fake money.

 

[remogul92]

Closed out for a $929 profit!

Not bad for a few hours of doing nothing. All I did was look at different currency pairs until I saw one with a clear trend over the past 2 weeks. Then, I went with the trend and placed SL and TP. Because as you all know, I can't watch charts all day!

I made $929 in a few hours on an initial investment of $10,000. I'm feeling so confident about this, I might make it real money soon. This was still fake money.

Congratulations! Good job. How many paper trades have you done so far? And what does your profit look like over the broader picture?

 

[farmerjohn1324]

Congratulations! Good job. How many paper trades have you done so far? And what does your profit look like over the broader picture?

Thanks.

I'm not worried about the broader picture because I just recently altered my strategy. Prior to this, it was just guessing.

Since changing strategy, I'm 2 for 3, with 2 open (of which I'm winning 1).