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Tag Archives: exit
Paper trade: Stopped USDCAD short @ 1.0540 for +131 pips
Finally a profitable trade in my USDCAD short after being stopped out a few times. My decision last week to hold this for longer after USDCAD touched my target paid off. I moved my stop closer last Thursday evening and the order got filled on Friday. However, as I type this on the [...]
Paper trade: Stopped out of USDCAD short @ 1.0640 for -67 pips, re-entering @ 1.0680
Well this was awful. USDCAD continued on a rampage upward and I was caught on the wrong side of the fence. Total loss for this was 0.12% of my account. At least I was light in it.
In retrospect, I broke my own rule and didn’t enter at one of the 4 fundamental entry points. [...]
Paper trade: Closed GBPJPY @ 146.42 for +140 pips
Just closed my GBPJPY long at 146.42 for around +140 pips average gain, or 0.4% in the account balance. Damn good for a 24 hours holding. Obama just finished his State of The Union address at the moment. I am not impressed. Still all talk of change but nothing concrete yet. Anyway, that’s beside the [...]
Closed EUR/CHF and GBP/CHF Shorts: Best. Trade. Ever.
As I was saying earlier this week, I have been stockpiling in EUR/CHF short in my demo account (Fig. 1). Aside from that, I’ve also stocked up some GBP/CHF shorts this week (Fig. 2). Both positions are now closed because of my adjusted stops. These positions have single-handedly lifted me half way out of a [...]
Posted in European Crosses, Self Assessment Also tagged CHF, EUR, FTC, GBP, good trade, paper trade Leave a comment
Paper trade: Closed AUDUSD short @ 0.9057 for +126, +26, -13 pips
My AUD/USD short from yesterday played out exactly as I planned. But I took profit a few pips earlier than I wanted because the bounce from 0.9025 fooled me. As you can see from Figure 1, AUD/USD is resting on 0.9000 support as I predicted. Now the million dollar question is, should I go long [...]
Early bird does not get the worm in forex trading
[This post was updated on January 13, see addendum below.]
I have discussed my enthusiasm in shorting the Aussie a few times this week. First trade was shorting AUD/JPY at 84.53. After that got stopped out, I re-tried at the same level the next day. My trade history in this currency pair is shown in Figure [...]
Posted in Self Assessment, Trading Psychology, Trading Strategy Also tagged bad trade, entry Leave a comment
EUR/USD +95 pips in 2 hours: An example of swing and day trade convergence
I had my best day-trading day this quarter on November 27. I made 95 pips in two hours at the open with only two trades. This post is a review of my trades that day for my future reference. To save you and myself from reading, the two reasons for this good run are: Click [...]
Posted in Major Pairs, Self Assessment, Trading Signal Also tagged day trading, entry, EUR, good trade, long, paper trade, USD Leave a comment
My name is Paul and I am a full-time engineer, part-time trader. Back in 2000, I deposited my $5000 interest-free student loan with an online broker. Since then, my interest in trading has become an obsession.
Paper trade: Closed all CADJPY long @ 88.40 for +152 pips