Post your live Forex trades here...

Discussion in 'Journals' started by xelite777, May 4, 2014.

  1. Forex traders (and currency futures traders), post your live trades/calls here, with a chart or two if possible. You are of course under no obligation to give/reveal the logic behind each trade.

    I will start.

    Short the CAD/JPY with a limit order at 92.92, stop at 93.15. The exit is a time exit as the trade will be closed at 11PM tomorrow (May 5), New York time.

    Happy trading and as always trade at your own risk! :)
     
  2. CAD/JPY trade is now active, short at 92.92
     
  3. Stopped at 93.15 (23 pip loss), now waiting for another possible (short) re-entry.

    In general, the Sunday to early Monday period is difficult to trade.
     
  4. Short CAD/JPY at 93.00 , stop at 93.20, exit at 11 PM (EST)
     
  5. boskop

    boskop

    why not let it run? most of the yen crosses are heading lower
     
  6. I forgot to mention something important (although those of you familiar with my previous live calls know that's how I trade) : if a currency pair moves 25 pips in my direction, the stop is immediately moved to break-even.

    And as you can see, that second short CAD/JPY trade did move more than 25 pips in my favor and then went the other way at 9 AM (EST). But just to keep things fair and honest I will consider that trade as a losing trade as well, so total for today: 43 pip loss (23 + 20).

    I will post a new Forex trade each day for a week or so.
     
  7. Of course, if the trend is strong the trade(s) will stay open until the end, otherwise all day-trades are closed at 11 PM (EST).
     
  8. While I am waiting for another trading setup to develop here are a few comments about Forex day-trades (and day-trading in general).

    I have noticed over and over that when the daily range of a particular currency pair (or market) is small, like today (15 pip range on the EUR/USD, come on!), then the probability of losing money is high.

    On the other hand, when the daily range is big, then the trade hardly gives me any trouble and I usually end up making tons of money on that particular day.

    Don't get me wrong, it is also possible to make money with going-nowhere markets, but more often than not they also produce a lot of false signals.

    Did you notice that too?
     
  9. Poorly?
     
  10. The very important Bank of Australia Rate Decision report is due in less than 6 hours (00:30 EST), get ready for some rock and roll action on the Australian dollar and all its crosses (especially GBP/AUD)... :cool:
     
    #10     May 5, 2014