Forex price action trading

Discussion in 'Journals' started by momoNY, Oct 22, 2014.

  1. Why ate you trading that mess?!

    Find a currency that is in a very clear trend in all time frames

    you don't have to predict the direction on this chart, just add a small lot, when it retraces to the 50 or 200 average and bounces add some more
     
    #181     Dec 11, 2014
  2. Dont trade that choppy crap
     
    #182     Dec 11, 2014
  3. momoNY

    momoNY

    Thanks Watson,
    Actually you are right, I will look into that. Is it very liquid, I know the euro you can trade very big that's why I am obsessed by it; besides I love challenges.
    Thanks for stopping by.
     
    #183     Dec 12, 2014
    wwatson1 likes this.
  4. momoNY

    momoNY

    I closed my long trades for a total profit of $1600. The way it is coming off support is not that convincing, very high chances to day will be an inside day, we will go probably up to 1.2475 then retrace to sit on the old trendline. If that happens I'll go long again.
    Challenge: ~ +2200
    upload_2014-12-12_9-14-54.png
     
    #184     Dec 12, 2014
  5. momoNY

    momoNY

    Zut, I moved my stop too early and got stopped out like a newbie!! gave back $200 after being up more than 500. Going short again; target 1.241, the will go long around 1.2390, stop should be below 1.2364.
     
    #185     Dec 12, 2014
  6. momoNY

    momoNY

    Getting out, probably will go long. It looks like it will go up to retest the high, probably stop at 1.2493. I will short with a stop at 1.2506 if it gets to 1.2480.
     
    #186     Dec 12, 2014
  7. momoNY

    momoNY

    Day trading is not for me!! I decided to re-enter short with a lighter position at 1.2452 stop 1.2597, target 1.2390; I may change my mind depending how thing unfold.
    Gave nmore than enough back
    Challenge: ~+1800
     
    #187     Dec 12, 2014
  8. momoNY

    momoNY

    Got shopped to death trading short term on Friday and Sunday night, lost almost all last week winnings.
    The challenge puts pressure on me to go get some pips where there are none! I should just care aboutmy trading and forget the moneeeeey!
    Long at 1.2450 stop 1.2375 for now.
    Challenge: +$700
     
    #188     Dec 15, 2014
  9. momoNY

    momoNY

    Crappy day today. The Euro followed my plan for the week, but did not manage to get a lot! Tomorrow will probably be an up day unless it trades below 1.2439.The resistance at 1.26 should hold or be broken by a hair, I'll put my stops at 1.2610. I will look to enter long if there is a descent setup, otherwise I have limit sell orders at 1.2460 and 1.2480.
    Challenge: +$1300

    upload_2014-12-16_18-44-31.png
     
    #189     Dec 16, 2014
  10. momoNY

    momoNY

    I got killed trying to predict every single move. I covered my short and I went long and I don't know what happened after that!!!
    Challenge -500 !!!!!
    Back to the basics. Long at 1.2395 stop 1.2360 target 1.2545. I will forget the challenges and focus on my trading!. Starting on a clear slate.
    upload_2014-12-17_11-13-56.png
     
    #190     Dec 17, 2014