LouDogg's Spot Forex Trading Journal

Taxes took forever to do. haven't done any trades yet, but from what I can see, it looks like we are going to head down below 1.19. I'll wait over the weekend if there is any fallout from the Bush/Blair announcement from this morning.
 
Thanks for the comments B. It is always good hear positive encouragement from other traders.

My system is pretty simple. RSI, MACD, SAR, and Bolinger Bands.
The risk managemet is more important than the entry system.
 
Not saying it cant happen, but there is very strong support at 1.19 as we have seen from this weeks trading. If it does indeed break down then this could mean the end of the 2 year USD down wave against the euro.
 

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Quote from LouDogg:

Taxes took forever to do. haven't done any trades yet, but from what I can see, it looks like we are going to head down below 1.19. I'll wait over the weekend if there is any fallout from the Bush/Blair announcement from this morning.
More...

Hi LouDogg,

Glad that you are back. Good luck.
 
Okay, I have been not trading for a while. Just been observing and looking for a good place to get in. It looks like it is now.

Selling Euro/USD at 1.1920
Initial Target 1.1820
Stop 1.1970

eventual target 1.1770

Right now it is at 1.1904 (or somewhere like that).

I read Rezo's comments about the Euro going to 1.16. Well I 'm not sure about that. I think we will see it go back to 1.21 before that happens.

Oh yeah, has anybody tried using P&F charts for FOREX. They seem like an interesting addition to regular bar charts.
 
Quote from LouDogg:

Okay, I have been not trading for a while. Just been observing and looking for a good place to get in. It looks like it is now.

Selling Euro/USD at 1.1920
Initial Target 1.1820
Stop 1.1970

eventual target 1.1770

Right now it is at 1.1904 (or somewhere like that).

I read Rezo's comments about the Euro going to 1.16. Well I 'm not sure about that. I think we will see it go back to 1.21 before that happens.

Oh yeah, has anybody tried using P&F charts for FOREX. They seem like an interesting addition to regular bar charts.
More...

Hi Lou,

Still short?
 
Not sure now. I got lucky and my limit was hit before the Euro went all wacky. The last couple of days though have played some serious havoc with my system. I have been out for the last week or so because I really don't have a good idea where the direction is. My gut feeling is telling me that we will see it drop but that really is about as good as guessing to be honest. I will probably have a clearer idea sometime Sunday. So for now, I am out and probably will stay out for the next few days.
 
Quote from LouDogg:

Not sure now. I got lucky and my limit was hit before the Euro went all wacky. The last couple of days though have played some serious havoc with my system. I have been out for the last week or so because I really don't have a good idea where the direction is. My gut feeling is telling me that we will see it drop but that really is about as good as guessing to be honest. I will probably have a clearer idea sometime Sunday. So for now, I am out and probably will stay out for the next few days.
More...

No more trading?
 
Sorry for the long absense. I went and got married ( been in the works for quite a while). So naturually my mind has been on other things. Back to the market. Right now the Euro/USd is at 1.1944, down from about 1.2040 from the previous night. From what I observe, this should be the begining of a move down to somewhere around 1.1750. So my pick for today is:

Sell Euro/USD at 1.1940 or better (maybe1.1980 if we are lucky)
Initial target at 1.1850
Eventual target 1.17

Stop, who need stops. No serious, 1.2000. So pretty big, but I feel very confident about this one.
 
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