Today's Pattern Trade

Discussion in 'Forex' started by FJMcC, May 10, 2011.

  1. FJMcC


    I have been posting some of my trades in a thread about the Euro, and thought I would start a new thread and divulge my trades on a daily basis.

    I am not selling anything, I am not IB'ing for anyone. I don't have a website or any interest in starting one.

    I am doing this to start dialogue, and to better discipline myself.

    If you're interested, these trades are executed through and Institutional quality ECN. I am sure some retail feeds and other ECN's will show different prints. Any discrepancies in fills, stops, limits, are unavoidable and unintentional.

    Enter Long EUR/JPY on a Stop @ 116.09

    Stop Loss: 115.79

    Target: 117.60

    I posted this in the Euro thread a little while ago, and just got filled as I copied it for my new thread. Unlike the first edition of this thread, I am now comfortable placing the original stop at the heightened, 115.79 level Risk/Reward initially stands at 30/151, for a 1/5 ratio. Not bad. Let's see how it works out.
  2. BSAM


    Kinda wonderin' why you didn't post in the Journals forum.
  3. FJMcC


    sorry didnt know about it. Can I move it?
  4. BSAM


    If you'll pm a moderator, they can do it for you.
  5. ahh...shucks! I was hoping he would leave it over here in Forex...


    P.S. Bsam...don't you trade futures or equities?...what are you doing over here? HeHe...
  6. FJMcC


    ES, I will leave it here, cause I like you guys.

    by the way, this trade is working so far, ahead 35 odd pips going into the close. Could bump the stop a little, but I think we should leave it until 116.50 has been tested and firmed up.

    good luck.
  7. FJMcC


    By the way, this 50 level is crucial. If the trade is going to fail this is right where. Conversely, a break and hold would give me incredible confidence that 117.60 is not far off.
  8. FJMcC


    Current bid 116.51.

    SL moved to 115.95

    Targeted adjusted to 117.95
  9. we rule!


    Bumper Sticker: Forex Traders never sleep, they just start a new session.