Tuesday, June 30, 2009

My JPY Trade

Im still in the USDJPY trade. Up a lil over 160 pips so far. My targets of 96.00 and 96.60 have been hit. I am waiting to see t 97.26 to be hit. It will either break that area or bounce off of it. It has bounce twice off that area already, so we shall see what happens.

How do I feel about my position? Well I have been taking profits every 50 pips or so. I moved into the world by one pip and it came within 5 pips from stopping me out before taking off, so I am a happy camper. You get very tired of the banks coming and taking you our by a pip or two, then taking off for the big move you where waiting for.

When we get to 97.26 area I will probably take more $$$$ off the table and leave one last entry in. At that point it will be a true "I don't care trade."

Im not looking at getting it to anything this week since its a holiday and we have non farm. I will just keep riding the USDJPY as long as I can.

I will be looking for BUYS next week on the EURGBP. Haven't traded that in awhile so should be fun.

Sunday, June 28, 2009

Trading the USDJPY this week

So its Sunday night and I am in the UsdJpy with a scout trade. My first target is 96.00, for obvious reasons. Then after that I want to stay in it to 96.60 then 97.20. Long range to 98.10.

I also at some point want to get into the GBPUSD for sells at some point. Ill be looking for a possibly entry, but we have the day failing on us, so i may just wait for a fresh day cross.

Wednesday, June 24, 2009

Stupid move turns into $$$

So I got stopped out of the CHF with 69 pips. Then I accidently closed my Eur trade w 160 pips. I did not want to close my Eur, but owell.

I am currently in the Gbpusd on a sell with three entries: 1.6586, 1.6543 and another at 1.6524. If we can break the day trendwall, we should see a good drop to 1.6153 then possibly 1.5960 area. We should then see a pull back once it hits 1.5960.

I really hope the Gbpusd can get there, I've gotten used to over 150 pip runs so I want to keep my record going. The Eur needs to break below 1.4004 for us to see a drop on the Gbp.

Ill keep you posted.

Tuesday, June 23, 2009

Great Day Trading

So me and a few other traders got in the Eur and Chf last night and got paid out BIG TIME!!!

I am still in a buy on the Eur and am up over 220 pips right now. I have a target of 1.4310. Once it passes that, which I think it will because it has bounced off that area a few times now. So i think the next time we get up there, we are going threw it. My next target is 1.5304.

I am also still in the sell on the Chf and up over 200 pips on that. I have a target of 1.0526, then 1.0368. we may get a bounce off that level if it doesn't break threw it.


So what did I do today? I increased my account 10% only risking a little over 2%. 1% risk on Eur and 1% risk on Chf. So for those that think they have to risk more than 3% to make a living trading forex, guess what? You don't. Be selective and patient and the trades will come to you.

Happy trading, I know I am. (At least for today)

Sunday, June 21, 2009

Been traveling.

Summer vacation has started and I have been traveling like crazy. The good news is I have been able to catch some pretty big moves. The begin of the month I think I took 200+ pips on the Eur. Lat week I was able to take over 400 pips on the Eur again.

I am currently in the Eur on a buy and the GBP for a buy also. Im up over 150 pips on the Eur coming into this weekend. I hope they both keep climbing. Still looking for upper targets on both of them, but for the time being I will be looking for bull entries on both of those pairs.