Tag Archives: USD

Paper trade: Long USD/CHF @ 1.0122, SL 1.0060, TP 1.0225

By Paul | Published: November 18, 2009
Seeing that this is my first commitment after the big drawdown, I’ll bring back my tradition of writing a post to log my rationale and market conditions on this entry for later review. I sifted through the weekly charts of all pairs on my watch-list tonight and found that USD/CHF long is the most promising.  [...]
Posted in Major Pairs | Also tagged CHF, entry, exit, FTB, long, paper trade | Leave a comment

Paper trade: Long USD/CHF @ 1.009, out 1.0245 (+155 pips)

By Paul | Published: October 29, 2009
The U.S. dollar finally picked up some strength last Thursday and I loaded to ride the trend.  One of the earliest trade I made in this wave is going long on USD/CHF.  Figure 1 is taken today after a full week since the initial move in USD.  The vertical line marks the day when I [...]
Posted in Major Pairs, Self Assessment | Also tagged CHF, entry, exit, good trade, long, paper trade | Leave a comment

Paper trade: Short NZD/USD @ 0.7520, out 0.7308 (+212 pips)

By Paul | Published: October 28, 2009
This was definitely one of my better executed trades recently. Here’s my logic for the entry and exit. As shown in Fig. 1, at the time of entry (marked by the faint vertical line on 10/23), NZD/USD made a negative divergence with a higher price and lower RSI. There has been a series of false [...]
Posted in Aussie, Kiwi, Loonie | Also tagged entry, exit, NZD, paper trade, short | Leave a comment

An undisciplined trade: Shorted EUR/USD @ 1.499, stopped 1.505 (-62 pips)

By Paul | Published: October 26, 2009
I started to doubt this move mere minutes after placing it, which rarely happens.  And not because of the price action.  It was solely for my reasoning for this trade.  On a quick mental review of this entry, I noticed that they sounded more like excuses than reasons.  First sign of it was that I [...]
Posted in Major Pairs, Self Assessment | Also tagged bad trade, entry, EUR, exit, paper trade, short | Leave a comment

Paper trade: Short GBP/USD 50% @ 1.634, Out 1.645 (-110 pips)

By Paul | Published: October 21, 2009
Well, that descending trendline didn’t last long for GBP/USD.  I shorted it when it was testing it and saw that the RSI was at a prior high too (Fig. 1).  I placed my order just below the short-term ascending support to hope for a break to the downside, see Fig. 2.  GBP/USD consolidated around that [...]
Posted in Major Pairs | Also tagged entry, exit, GBP, paper trade | Leave a comment

Paper trade: Long USD/CAD 25% @ 1.02988, stop 1.02080

By Paul | Published: October 16, 2009
This log is written about 18 hours after the entry.  I entered long USD/CAD at the market last night for a 1/4 position size.  USD/CAD took a brief run up of about 100 pips.  Naturally, I moved the stop to just above breakeven to make this a risk-free trade for over the weekend. I entered [...]
Posted in Aussie, Kiwi, Loonie | Also tagged CAD, entry, paper trade | Leave a comment