Discussion in 'Forex Trading' started by KrispyKreme50, May 27, 2009.
I'm selling EUR/JPY here at 132.52. Stop is set at 132.70.
what is the target?
you can take 50 point if you are lucky
I got stopped out but I was aiming for 130-130.50.
I'm not exactly sure what HERE means. Can you show that on a graph?
lol, I'm not sure what the point of your post was anyway but have fun.
couple of questions here... you posted 2:30 seems like it would have been good it probably moved against you 17 pips or so... then moved 100 pips+ down... so my question is 1. did you not move your stop into profit?
2. the trade was more than 140% over the previous legs distance ... how come not exit 1/2 of position?
3. why be short in a long uptrend at a critical retracement point ...? and especially when the interest rate differential is paying opposite to your trade...?
My mistake was #1. I didn't move the stop and probably set it too close in the first place considering the action that day was choppy.
#2 is self explanatory because the trade did not work out.
#3 is a good point but I tend not to hold my positions for a long time so unless the interest rate differential is very large (AUD/JPY for example) I tend not to include that in my analysis.
I think we might see some EUR/JPY weakness this week too so I will post on this thread if something does happen.
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