Update on current trades

Posted on 22. Sep, 2009 by admin in forex signals

Tech tipsComputer Tricks

Some days ago I wrote a post about a possible short EUR/USD trade. You can check it out here. However, things turned out a bit different than expected, and I actually took a long trade on USD/JPY instead of a short EUR/USD, due to different aspects; specially because both the EUR and USD was strong and the JPY was week. The trade was good for about 50 pips. Stop loss was moved to break even, and the pair turned around and hit my stop loss. So this was 0 pip trade. Next off we started to see EUR getting weaker, and EUR/USD started to drop. Even though I wanted to enter a trade around 1.4750 – 1.4800 as mentioned in my last post, I changed my mind and took a short trade. This one got stopped out for – 100 pips or – 1%. The USD/JPY kept going down and I put a “buy limit” in at the neatest support level, in the expectation that it would go back up. The trade was triggered, and stayed around this level before it finally broke through the support level. The trade is still open and is currently about -50 pips (-0.5%). As the EUR/USD rallied back up, and got close to 1.4800 I took another short trade, as this was the starting point, where I actually wanted to enter. This trade is also open, and is currently trading just around break even.

All in all, not the best day. I should have traded according to my plan, as I would have avoided the first EUR/USD loss. Anyway, that is too late to change now, so I will consider that a lesson. Let’s see what happens to the two current trades.

Related posts:

  1. Trade update and more trades
  2. Update on yesterday’s trade and new entry
  3. Update on yesterdays trades
  4. Evening trades
  5. FxBossTrading – 3. update

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