Tuesday, July 25, 2006

Swing trade - Long USD/JPY

I liked what I saw earlier. Decided to enter a position eventhough the price was already up 30 pips from the low. As confirmed by H1 breakout, I long USD/JPY at 116.90, few minutes later, the trade paid off immediately....
















My exit was 117.34

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Wednesday, July 5, 2006

GBP Trade +28 pips

M5 Entry - Long 1.8431
















M1 Exit - Close 1.8459
















Should follow M5 exit instead?
















Somehow for this trade, both exit strategies appear to yield the same result.

Meanwhile...

















Soon after my exit, M5 breakout again and this time on the down side. The move is so fast & furious and totally caught me by surprise during my lunch break. I have no time to respond. Otherwise...the result could be spectacular (a 100-pip move)!

Discovery Soaring High

Tuesday, July 4, 2006

GBP Trade +1 pip

10.52 am - Browsing for opportunities
















10 minutes later....M5 Breakout

A short trade entered at 1.8456
















12.45 pm Exit for 1 pip profit at 1.8455
















I couldn't quite manage to catch a strong enough move to make myself more pips. Perhaps, I should have reversed my position to go long after exit since there was a perfectly valid entry, but I didn't....(a decision which I regret and would take next time around).