LouDogg's Spot Forex Trading Journal

Quote from LouDogg:

Closed all positions at 1.2100

First position -1 pip
second position +85 pips

We'll see another dip soon.
More...

Hi Lou,

Well done - sometimes it pays to add to losers...
 
I feel though that I may have gotten lucky. Adding to losers is a move that I really don't like in general. I got burned too many times when first started, I think it worked out okay here.
 
Even though I usually don't mess around with the yen, It looks to me that it might just drop from 105 to around 103.50 in the next few hours. I am going to watch it for a little while and see whats up.
 
hi LouDogg

What system do you use? Care to share?

I use one that includes MAs, RSI, momentum
and slow stochs! =)

jerome
 
Sorry I have'nt posted in a while. Been trying to prepare my taxes (no fun). Also picking two losers, has taken a little steam out of trading. Probably best to take a look back.

As far as my system goes, its under remodel. The indicators I use are the Parabolic SAR, Bolinger Bands, RSI, a EMA, and the good ol' MACD. I try to experiment so I will add or subtract indicators as I feel fit. My feeling is that the indicators really don't show you anything in particular, they just give you a framework by which to view the market. Right now, I am trying to go more for a swing trading style and not be in the market as much rather than interday and have 6 to 8 trades a session. Why go for 20-60 pips a trade when you can have 200+ with a better Risk/Reward and beter winning % just by trading less? But it is all a matter of personal preference.

I still think the Yen has a chance to drop, just not now
 
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