LouDogg's Spot Forex Trading Journal

This is my pick.

Looking to make a small buy of Euro/USD at 1.2480
Limit 1.2530
Stop 1.2455

It is going to be a rocky night, so I expected to make some changes
 
The stop of the previous move should be 1.2532 and it was hit. Oh well, can't win them all. I ,unfortunately, have been out of the market due to work commitments and some very interesting thing have been happening.

My opinion is that the Euro will rise against the dollar. The time frame, though I am not sure about. It still looks like a double top to me on the 8 and daily chart, but reading patterns like that can be so subjective.

While my personal opinion is that the Euro has to move to parity against the dollar, that is in a very long time frame (5 to 10 years), I don't see any major events happening to really change the Euros overall rising trend. My feeling is that we will see some minor dips further, before a general rise to the 1.27 level sometime this week.
 
Okay after a crazy week of dealing with the day gig, I can get back to trading. The last 10 days have been interesting to say the least with the Euro/USD hitting a high of 1.2927 to then drop 500 points. Of course, I wasn't able to take full advantage of this. But I am more concerned about what is happening now. It looks like it is consolidating for a move back up.

My pick until I get proven other wise is:

Buy Euro/USD at 1.2435
Sell at 1.252
Stop at 1.2410

As usual some adjustments on the way will probably be necessary.
 
I haven't been keeping track of my trades like I should.
Here are my trades since 2/23/4. All are Euro/USD

2/23/4
Bought at 1.2483
Sold at 1.2496

Gain of +13

2/24/04
Bought at 1.2542
Sold at 1.2512

Loss of -30


3/1/04
Bought at 1.2435
Sold at 1.2410

Loss of -25

3/2/03

Bought at 1.2245
Sold at 1.2246

Gain of +1

Sold at 1.2251
Bought at 1.2217

Gain of +34

Record so far is -17 for the week. While unhappy with the performance, I obeyed my rules. We'll see how later tonight goes
 
Maybe you should just trade a simple 50MA system on a 30 m or 60 m chart? You could have earned a lot more pips - with less risk.
 
Baruch,


I may be setting up the chart wrong, but using a 50 ma on a 60 min chart for Eur/USD doesn't seem to provide any directional insight...What am I missing....Can you give a recent example on the EUR/usd that shows movement off of the 50ma.

Thanks
 
If you used 50MA on a 30 min chart, you would have been short from round 1.2650 to 1.2170 (and now long). Your risk? Max. 20 pips.
 
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