Moved stop to break even
Theres powerful support in the trendline which began at the beggining of october.
News will be coming out at 4:30am
I shall stay in the tradeup a lil over 30 pips right now
Moved stop to break even
Theres powerful support in the trendline which began at the beggining of october.
News will be coming out at 4:30am
I shall stay in the tradeup a lil over 30 pips right now
Decided to come out @ 1.9328
so I made 34 pips
I understood the support was really strong and price had been bouncing off everything day. . Plus 2 major news reports are coming out for GBP and USD that will have a strong impact on price so id rather play it safe and get out earlier 4:30
Additionally, the price has been playing around the 61.8 fib retracement line for a while
simply to keep track:
34 pips up to now
Wow, only woke up to see both major item of news to the GBP were very favorable and damm did it show on the charts
interest rate went up to 5.25%!! For anybody that trades the news this must of been like xmas all over again for them.
Looks like I shut my trade at the PERFECT time last night, it bounced right off the strong support trendline after battling it all day yesterday which made it even more significant
this is going to be a fantastic reminder to me to constantly keep in mind that PRICE ACTION IS KING!
I can see you have the makings of a professional trader mentality even if you're new in trading. Welcome and may you have your cut in Currency MarketOriginally Posted by ;
Thx hilmy
although I have been trading for nearly 2 decades now, been thru a 500 dollar live account (I call this my learning account lol)
I have learnt heaps over my period trading. . 1 matter being never go live w/ insufficient funding on account of the rules of money management mixed with high leverage in forex... unfortunately I learnt this after my 500 dollar loss
I spent my time studying http://www.moneytec.com but prefer fxfactory and today I listen to this news also so its all here on one website... plus the people are somewhat more positive here so it helps out
Sold @ 1.9697
-91 pips
So far: -57 pips
I believe I just proved the trend is your friend philosophy... moving against it could be ur worst enemy sometimes, oh well, on to the next trade
Sold @ 1.9720
18 pips
(my exit egy might need some fine tuning, I think the market has shifted because its been operating. . Been missing on a few big pips )
Complete: -39 pips
Hi brxxt
Welcome to the factorylt;?Xml:namespace prefix = o ns = urn:schemas-microsoft-comfficeffice /gt;lt;ogt;lt;/ogt;
I have been demo trading using the fad manager for sometimes and that I find it works better on the 1H chart. What's your opinion?lt;ogt;lt;/ogt;
lt;ogt;lt;/ogt;
Good luck with your journal.
Adam141