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Trader Girl Forex Trades
- Thread starter amytrade
- Start date
Most of my levels didn't come close to getting hit today. I had a 10 pip loss in EUR/USD then got back in and still in from breakout of 1.2735 consolidation under by 1.2742 buy area. The bias is down for this currency today so have moved stop under 1.2745 swing low and target is 1.2795 (few pips away from whole number).
I'm also still in my EURJPY buy at 115, may decide to hold and see how it handles the hourly MA at 116.
I may not be trading tomorrow so no point doing nightly analysis tonight, will know later. Some days like today the SAFE areas I determine to buy/sell the night before don't get hit due to lack of volatility. Those are my worst days but so far up over 30 pips and think I'll make 80 to 100 if EURJPY continues up to hourly MA and even more if it breaks out over it. May even turn it into a swing trade if it shows little weakness and a tad of strength down here!
I'm also still in my EURJPY buy at 115, may decide to hold and see how it handles the hourly MA at 116.
I may not be trading tomorrow so no point doing nightly analysis tonight, will know later. Some days like today the SAFE areas I determine to buy/sell the night before don't get hit due to lack of volatility. Those are my worst days but so far up over 30 pips and think I'll make 80 to 100 if EURJPY continues up to hourly MA and even more if it breaks out over it. May even turn it into a swing trade if it shows little weakness and a tad of strength down here!
Ranked in likely strongest to weakest
EUR/GBP
EUR/CAD Buy 1.5850
EUR/JPY Buy 114.23 to 113.81
EUR/USD Buy 1.2700
USD/CAD Buy 1.2367
USD/CHF Buy 1.1590
CAD/JPY Buy 71.50
USD/JPY
GBP/JPY Aggressively sell 130.40 â 130.60
AUD/JPY Sell 60.00-60.10
GBP/CAD
AUD/USD Sell .6600
GBP/USD Sell 1.4400-1.4421 if it breaks short fib target up
NZD/JPY Sell 48.00
NZD/USD Sell .5292 to .5350
EUR/GBP
EUR/CAD Buy 1.5850
EUR/JPY Buy 114.23 to 113.81
EUR/USD Buy 1.2700
USD/CAD Buy 1.2367
USD/CHF Buy 1.1590
CAD/JPY Buy 71.50
USD/JPY
GBP/JPY Aggressively sell 130.40 â 130.60
AUD/JPY Sell 60.00-60.10
GBP/CAD
AUD/USD Sell .6600
GBP/USD Sell 1.4400-1.4421 if it breaks short fib target up
NZD/JPY Sell 48.00
NZD/USD Sell .5292 to .5350
When your analysis is wrong then you need to go with the momentum of the moment and then wait for exhaustion before entering any counter trend trades. In this case the GBP/JPY pairs were stronger than 85% of the rest so that means you have to be very careful doing any counter trend trades. I did lose 25 pips in GBP/JPY at my area last night but then waited for momentum to die. I shorted the 1.382 to 1.618 fib targets and waited for trendline to break before entry with stop over the high and got my loss back and then waited for a retest of the high and then shorted around 133 and got out when the counter trend signals showed up (pink dots). I also took consolidation breakout buy at 2:30am as this was the strongest pair and trend so clearly up.
For new traders the absolute best thing you can learn is to take your loss and take it SMALL! You'll never consistently be 70%+ accurate in your trades and some days may be right 30% but if you take enough trades you'll get an occassional 30 to 50+ pipper which will eat up 3 to 5 losses.
For new traders the absolute best thing you can learn is to take your loss and take it SMALL! You'll never consistently be 70%+ accurate in your trades and some days may be right 30% but if you take enough trades you'll get an occassional 30 to 50+ pipper which will eat up 3 to 5 losses.
Attachments
and today's trade eur/usd.
I trade purely based on price action. higher high / lower high, lower low / higher low. Swing low and swing high, support, resistance. Whenever the price made a retracement, that's when i am trying to enter.
i trade only on 5m and 15m time frame.
I trade purely based on price action. higher high / lower high, lower low / higher low. Swing low and swing high, support, resistance. Whenever the price made a retracement, that's when i am trying to enter.
i trade only on 5m and 15m time frame.
Attachments
Quote from amytrade:
When your analysis is wrong then you need to go with the momentum of the moment and then wait for exhaustion before entering any counter trend trades. In this case the GBP/JPY pairs were stronger than 85% of the rest so that means you have to be very careful doing any counter trend trades. I did lose 25 pips in GBP/JPY at my area last night but then waited for momentum to die. I shorted the 1.382 to 1.618 fib targets and waited for trendline to break before entry with stop over the high and got my loss back and then waited for a retest of the high and then shorted around 133 and got out when the counter trend signals showed up (pink dots). I also took consolidation breakout buy at 2:30am as this was the strongest pair and trend so clearly up.
For new traders the absolute best thing you can learn is to take your loss and take it SMALL! You'll never consistently be 70%+ accurate in your trades and some days may be right 30% but if you take enough trades you'll get an occassional 30 to 50+ pipper which will eat up 3 to 5 losses.
I'll also add, for what it's worth, that if you're trading gbp/usd, eur/usd, eur/jpy, gbp/jpy then keep an eye on the DOW and the general market sentiment. These currencies have become highly correlated to the main indexes. Looking for key levels, then waiting for a turn in the dow is a good combo.
cap'n