My real time forex trades

Quote from TMcKenna:

I have decided to close this short at 1.9518 for -217 pips, this (bad) trade was 1100 pips in red at some point.
I did not expect pound to reach 1.9850 in my wildest dreams, and I was very wrong.
More...

Why not use stops?
 
Finding the right support/resistance will help to keep losses small. Taking these levels of a daily/weekly/monthly charts. If you believe that GBP is to decline than short a major support level with let's say a 10 pip stop. If you get stopped out short again same level keeping same 10 pip stop. If your analyses are correct than eventually after 1-3 attempts that level will be broken. IMO that is better than taking heat, unless hedge is in place.
 
Quote from romik:

Finding the right support/resistance will help to keep losses small. Taking these levels of a daily/weekly/monthly charts. If you believe that GBP is to decline than short a major support level with let's say a 10 pip stop. If you get stopped out short again same level keeping same 10 pip stop. If your analyses are correct than eventually after 1-3 attempts that level will be broken. IMO that is better than taking heat, unless hedge is in place.
More...

Thanks, I'll try to do better this year.
Just got back from long holiday, my two open positions are in red but both should get better long term.
 
Quote from TMcKenna:

Short second lot at 152.01

Avg. short 151.51
More...

Added 5 lots here short at 157.17, average short now 155.55, no more money left for this trade, stop is above 160.00, tp open
 
Quote from TMcKenna:

Long usd/chf at 1.1980, one lot $10/pip, there will be no second lot , s/l 1.1900 even, t/p open
More...

This trade was stopped out and it turned out to be a bottom, right where my stop was, as you can see it went up 600 pips after that. This is why I hate using stops.
 
Quote from TMcKenna:

Shorted eur/chf at 1.6010
More...

This one didn't get very far in the last two months, only one lot here, will wait for 1.65 to add to shorts or take profit below 1.60 which ever comes first.
 
Quote from TMcKenna:

Added 5 lots here short at 157.17, average short now 155.55, no more money left for this trade, stop is above 160.00, tp open
More...

Closed trade at 155.34 for 21 pip. Those 5 lots made the world of difference, very happy now :)
 
You must log in or register to reply here.
Back
Top