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FXjake's Free Pips
- Thread starter FXjake
- Start date
Quote from FXjake:
This has fallen over 200 pips from the entry price, so to reduce my risk I have moved the stoploss to break even.
This GBPUSD short trade is now closed, it may be on the way up for a while, so I will take the 140 pips and run.
Attachments
Quote from inks2002:
nice calls, was with you (bought in a little higher) on the usd/cad pair. Looked like it really would have made a run to 1.1800. Any idea what caused the reversal?
Inks2002:
Not really sure what happened with the USDCAD, I am sure there will be more opportunities in the future with that pair (and the others).
For me, thinking about *why* pairs behave the way that they do is as fun as listening to some blowhard on TV wax on about the quarterly outlook for the ______ (insert favorite pair), it just doesn't help me. In fact, it hinders me quite a bit, so I stick to my charts and get my news from The Onion.
I don't mean to belittle your question, if I have understood it correctly, I just mean to suggest that, for me, fundamental analysis is not a priority.
My all-time favorite trade was repeatedly going long USD/JPY for the last 3 months in 2005, all the while reading about why the yen was going to strengthen.
There are many ways to make money in this, and for me the easiest is to pull up a chart and throw support and resistance lines. Adding news into the mix complicates it too much for me.
For others, I am sure that fundamental analysis may work wonders.
Short USDCAD at 1.1605
Stop at 1.1685
Target #1 1.1490
Target #2 1.1250
AUDJPY Long Trade
Long at 76.40
Stop loss at 74.70
Target 1: 78.20
Target 2: 79.50
NZDJPY
Long at 60.85
Stop loss at 59.29
Target 1: 62.80
Target 2: 66.00
Obviously, these were all losers - unfortunately sometimes we get breakouts when expecting these s/r zones to hold.
Will wait for the next setup and will post it. Looks like it will have to be next week. Have a great weekend!
Stop at 1.1685
Target #1 1.1490
Target #2 1.1250
AUDJPY Long Trade
Long at 76.40
Stop loss at 74.70
Target 1: 78.20
Target 2: 79.50
NZDJPY
Long at 60.85
Stop loss at 59.29
Target 1: 62.80
Target 2: 66.00
Obviously, these were all losers - unfortunately sometimes we get breakouts when expecting these s/r zones to hold.
Will wait for the next setup and will post it. Looks like it will have to be next week. Have a great weekend!