Tame Inflation

A good start to the week. On Monday, a small scalp on GBP/USD position yielded +16. Two more trades for today gave the following results:

Short USD/CAD 1.1287
Closed 1.1233 (+54)
Held for 6 hours
Comment: I entered this position at price pullback but it went higher after that. A buy signal appeared but I decided to hold it and the drawdown was 33 pips. My stop loss used was 60. Technically, I should have exited with a loss of 15 pips. The position was eventually rescued by a rather tame inflation report.

Short USD/JPY 116.51
Closed 115.94 (+57)
Held for 3 hours
Comment: A drawdown of 20 pips. Quick turnaround and again rode on the inflation report.

I think I am doing quite well here and please keep it coming!

2nd week of August +174 pips

On Friday, one late gbp/usd trade that produced +52 pips alone has pushed the total weekly gain to +174 pips.

11/8 Short GBP/USD 1.8959
11/8 Closed 1.8907 (+52)
Held for 2 hours

USD/JPY +25 pips

A trade that nearly went wrong with -54 drawdown at one point. My stop loss was set at 60 points away from the opened level. I should have exited with -12 pips loss this morning when I still have the chance. It really pains me if the trade was indeed stopped out.

9/8 Long USD/JPY 115.24
10/8 Closed 115.49 (+25)

Take Profits While Ahead

A mid-week update. It is a tough market condition out there. Nevertheless, I made three trades so far:

7/8 Long USD/CHF 1.2238
8/8 Closed 1.2242 (+4)
Held for 15 hours
Comment: At one stage, there was over +30 pips on the table!

8/8 Long USD/CAD 1.1207
9/8 Closed 1.1247 (+40)
Held for 16 hours

8/8 Long USD/JPY 115.14
8/8 Closed 115.67 (+53)
Held for less than 3 hours

From now on, I will not hesitate to take any easy profits that presented to me.

News Alert

UK JUNE INDUSTRIAL PRODUCTION DOWN 0.1 PCT FROM MAY; CONSENSUS 0.2 PCT RISE

UK JUNE MANUFACTURING OUTPUT UP 0.1 PCT FROM MAY; CONSENSUS 0.2 PCT RISE

1st week of August +177 pips

Below are the results for this week. Trade breakdown as follows:

Long USD/CAD 1.1303 1.1308 (+5)
Long USD/CAD 1.1315 1.1358 (+43)
Short GBP/USD 1.8638 18690 (-52) Ouch!
Long USD/CHF 1.2273 1.2325 (+52)
Long USD/CHF 1.2303 1.2325 (+22)
Long USD/JPY 114.77 115.05 (+28)

The entry for above positions was based on H1 signal breakout and most of the positions were held for more than few hours at least.

Update: My last position of the week was a long usd/cad position opened this morning at 1.1257 which was later exited at 1.1336 for a quick +79 pips. This gives a total profit of +177 for the week.

Long USD/CAD 1.1257 1.1336 (+79)
















Have a nice weekend!

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

technorati tags: Yen

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

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).