LouDogg's Spot Forex Trading Journal

Quote from LouDogg:

I look at the 4 hour, 8 hour and daily to decide direction and type of trading day I might be encountering. I use the 15 and 5 to determine entry. Looking at the 15 right now (with the help of the MACD) give me the sense that we should see a drop (20+) within 45 minutes or so. Now I am not certain of this, but at least by having an opinion on the particular direction and time frame it should occur in, it gives me a point of view of the market. If I am right, then I just need to manage the trade to the best of abilities. If I am wrong, I just need to decide when to get out and whether this represents a move in the opposite direction.
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OK - but be carefull. Bad rumours coming out from Russia right now. Something about a nuclear cruiser which could explode at any moment. Coming from Sky News. Don't know if it's true.
 
Got out at 1.2319 for a gain of 26 pips. Still think it can drop further. But I am going to bed. Early day at the job tomorrow.
 
Hope everybody is trading well. Right now, I have no open position, but I am considering buying the EURO/USD when it is in 1.2270 to 1.2250 range. I'll see you in a couple of hours.
 
Yeah, I changed my stop. It was originally 1.2290. I just jumped the gun on this one a bit early. It still looks okay though.
 
But I feel moderately confident about this one. Probably not good judgement, but sometimes you need to learn from your mistakes. I still feel a reversal is in order at probably what I origianally thought (1.2260 approx.)
 
Quote from LouDogg:

But I feel moderately confident about this one. Probably not good judgement, but sometimes you need to learn from your mistakes. I still feel a reversal is in order at probably what I origianally thought (1.2260 approx.)
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OK, I am short. But 29 pips are maybe to much to lose if your wrong?
 
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