Tuesday, November 10, 2009
We did the right thing for coming out before it reverse. Last night we are just 7pips away from target but it reversed and hit our 20pips trailing stop loss. 2 hours after that the market move straight up definitely taken out our stoploss if we had never shift.
As we are being conservative according to the reasons provided 2 post earlier, we are able to take some pips off the table. Therefore Trade your plan, plan your trade.
GBPJPY Short
Short @ 150.62 base on 1hr chart trade signal. We are leaving only 20pips stoploss @ 150.82 as it might be a double bottom. Secondly, I don't usually expect US session to go in my way. We set our target at 40pips profit. Last factor is 150.48 and 150.37 are our monthly and weekly pivots respectively.
Stoploss will be set at 20pips trailing to get as much off the table as possible while I'm asleep :)
Currently standing at +11pips.
Wednesday, November 04, 2009
GBPJPY Long
Long trade open at 148.90. Stop loss shift to 149.40. Lock in 50pips
First trade of the month with positive outlook. Past 2 days its ranging between 240pips. It may seem like a good opportunity to get some money off the table but to me its too unpredictable to place a trade. We trade to make money. Therefore only we look for confirming signals for entry.
If 1200am price is at 149.75, we will look for another buy if that happens.
Long trade open at 148.90. Stop loss shift to 149.40. Lock in 50pips
First trade of the month with positive outlook. Past 2 days its ranging between 240pips. It may seem like a good opportunity to get some money off the table but to me its too unpredictable to place a trade. We trade to make money. Therefore only we look for confirming signals for entry.
If 1200am price is at 149.75, we will look for another buy if that happens.
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