amcfx Posted December 12, 2010 Report Share Posted December 12, 2010 Hi everyone, I've made this thread to post reviews of my trades and analysis you can call it my personal journal here. I'll try to post as often as possible For now here's my analysis for EU. (Not traded in my live account) I'm anticipating a breakout next week as shown in the chart (I'm using 4H btw). For bullish break out I see that 1.3300 is a good entry point to long and 1.3350 as a good TP For bearish break out I see that 1.3150 is a good entry to short and 1.3100 as a good TP. I'm still deciding on how much sl I'm planning for this.More or less I won't risk more than 40 since I believe that SL shoudn't be higher than TP. Link to comment Share on other sites More sharing options...
Guest binbin Posted December 12, 2010 Report Share Posted December 12, 2010 im newbi , could you please tell me the whether i can find the basic document about trading forex???? i saw above picture and i dont know. :D im try to learn trade forex Link to comment Share on other sites More sharing options...
amcfx Posted December 12, 2010 Author Report Share Posted December 12, 2010 im newbi , could you please tell me the whether i can find the basic document about trading forex???? i saw above picture and i dont know. :D im try to learn trade forex binbin, I sincerely encourage you to go to babypips. It's the best website to learn forex in details and simplified explanations no need to download anything. Also be sure to take the quiz after every chapter. It helps you to retain what you've read and what important things to remember. After your read a lot open a demo account in one of the many brokers available in the internet. Practice helps. Forex learning takes time. It could be a month and a year or more. Link to comment Share on other sites More sharing options...
amcfx Posted December 13, 2010 Author Report Share Posted December 13, 2010 I'm anticipating a breakout next week as shown in the chart (I'm using 4H btw). For bullish break out I see that 1.3300 is a good entry point to long and 1.3350 as a good TP For bearish break out I see that 1.3150 is a good entry to short and 1.3100 as a good TP. I'm still deciding on how much sl I'm planning for this.More or less I won't risk more than 40 since I believe that SL shoudn't be higher than TP. Buy stop order triggered and now TP was HIT for 50 pips! Not bad for my analysis. Sad I only used it in demo. (Please see attached image) result.bmp result.bmp Link to comment Share on other sites More sharing options...
amcfx Posted December 14, 2010 Author Report Share Posted December 14, 2010 Here are my sentiments on some pairs. EUR/USD My main bullish line is 1.3430 which is now broken and triggered my pending long. I have long term bullish target 1.3800 but I may close this trade anytime if I will notice that the bullish trend is no longer in control. My main bearish line is 1.3370 if it changes trend and bears take control it will touch my pending short and I'm going to trail it for 25 - 100 pips. GBP/USD My main bullish line is 1.5910 once this is broken it will trigger my pending long with 50 pips target profit! My main bearish line is 1.5850 once its broken it will trigger my pending short with 50 pips target profit! NZD/USD My main bullish line is 0.7575 if it breaks this level it will touch my pending long and my target is 0.7625 for 50 pips! My main bearish line is 0.7490 if it breaks this level it will touch my pending short and my target is 0.7440 also for 50 pips! Link to comment Share on other sites More sharing options...
Guest binbin Posted December 14, 2010 Report Share Posted December 14, 2010 binbin, I sincerely encourage you to go to babypips. It's the best website to learn forex in details and simplified explanations no need to download anything. Also be sure to take the quiz after every chapter. It helps you to retain what you've read and what important things to remember. After your read a lot open a demo account in one of the many brokers available in the internet. Practice helps. Forex learning takes time. It could be a month and a year or more. Thanks for help me. ill go that and to do with your help. Link to comment Share on other sites More sharing options...
amcfx Posted December 15, 2010 Author Report Share Posted December 15, 2010 Thanks for help me. ill go that and to do with your help. No problem. Glad I could help. Patience and diligence does pays off. But its going to be a long reading and mostly people skip reading all that is written in babypips. I hope you would persevere to finish it. A good basic foundation in any field is very useful and self rewarding. Link to comment Share on other sites More sharing options...
amcfx Posted December 16, 2010 Author Report Share Posted December 16, 2010 Aud/USD if break 0.9885 then bullish, if break 0.9852 then bearish Buy Stop at 0.9890 SL 0.9868 TP 0.9940 Sell Stop at 0.9847 SL 0.9868 TP 0.9797 Almost the same candle formation noted in EU. an Evening star in daily chart. Link to comment Share on other sites More sharing options...
amcfx Posted December 17, 2010 Author Report Share Posted December 17, 2010 This is soo sad! I lost both my buy and sell trades on Eur/Usd :( It was a sideway market and EU didn't even move 100 pips. -60 pips for me Link to comment Share on other sites More sharing options...
pjbabia Posted December 17, 2010 Report Share Posted December 17, 2010 It seems this journal of yours will provide benefits for us members. I am actually following your advice through this journal of yours. Thank you and keep it up. This is soo sad! I lost both my buy and sell trades on Eur/Usd :( It was a sideway market and EU didn't even move 100 pips. -60 pips for me trade last night already have results? If you got lost, there is a big probability that i got a loss too. Remember I am following your advice. I hope my other trade last week which just opened last night hit at +100. Link to comment Share on other sites More sharing options...
amcfx Posted December 17, 2010 Author Report Share Posted December 17, 2010 It seems this journal of yours will provide benefits for us members. I am actually following your advice through this journal of yours. Thank you and keep it up. trade last night already have results? If you got lost, there is a big probability that i got a loss too. Remember I am following your advice. I hope my other trade last week which just opened last night hit at +100. Yeap, it was a lost trade. So we lost -60 but we got 100 pips last Tuesday and Wednesday so we are still in profit. Anyway, I would like to share my trade with EU today. I shorted @ 1.3333 because I saw this in my charts. When the pip profit was ranging from 59 -75 pips I got scared that it might change trend. SO I closed my trade with 71 pips. A few hours later EU dropped like a rock and went below 1.3140 the drawed support line in my chart earlier. If I held my short open I would have earned over 150 pips. Morale of today's trade: Stay solid with your strategy and set trailing stop to lock more and more profits. Link to comment Share on other sites More sharing options...
amcfx Posted December 20, 2010 Author Report Share Posted December 20, 2010 I was using BB band in 30 minute EUR/USD chart. I opened a long at 1.3135 it reached over 40 pips. Placed my stop loss at 1 pip profit hoping it will go up more. Later I checked my trade closed and I only got 1 pip. Lesson of todays trade: Set reasonable targets when there's not much news to cause big moves. Link to comment Share on other sites More sharing options...
amcfx Posted December 21, 2010 Author Report Share Posted December 21, 2010 I managed to get some quick 50 pips on EU today! Sweet! Sold at 1.3130 and TP hit at 1.3080! I'm gladd I didn't adjust my tp to an even lower target because EU is sideways now. Link to comment Share on other sites More sharing options...
amcfx Posted December 22, 2010 Author Report Share Posted December 22, 2010 A good trading day for me today! Link to comment Share on other sites More sharing options...
pjbabia Posted December 23, 2010 Report Share Posted December 23, 2010 The 2 opened trade the other night buy and sell 1.3151 were both loss. I guess it is a lesson not to make false move. Or maybe it is a miscalculation... Link to comment Share on other sites More sharing options...
Spide Posted December 23, 2010 Report Share Posted December 23, 2010 im newbi , could you please tell me the whether i can find the basic document about trading forex???? i saw above picture and i dont know. :D im try to learn trade forex As you are a newbie, babypips school will be a perfect solution for you to learn the basics of forex. Babypips.com/school Complete first 3-4 chapters there. That will must help you to learn forex. Link to comment Share on other sites More sharing options...
amcfx Posted December 23, 2010 Author Report Share Posted December 23, 2010 I forgot to check the forex calendar today there were some important news. I thought yesterday that since Christmas is near there won't be much volatility. But I was wrong. I missed a big move on EU after the New Home sales report came out showing USD is weak. Link to comment Share on other sites More sharing options...
Andry Posted December 24, 2010 Report Share Posted December 24, 2010 @Spide Yes, I am agree with you. With learning from babypips, we can know better about forex trading. I suggested to learn from babypips not only to chapter 3 or 4 but you should learn from the beginning until the end of tutorial. It will help you more to know about forex. Link to comment Share on other sites More sharing options...
amcfx Posted December 28, 2010 Author Report Share Posted December 28, 2010 All my trades are now closed for today. I'm glad that I'm able to close my BUY trade before the market turned back down on EU. I sold EU a few hours ago and hit my tp for 100 pips for $10.00 I bought EU the other day closed it with 103 pips for $30.90. I'm glad I closed it today by following my own advice if to hold or close a position.(Posted in this thread) Total 203 pips! Such a good trade today! Link to comment Share on other sites More sharing options...
Andry Posted December 29, 2010 Report Share Posted December 29, 2010 @amcfx Wow that was great friend. You can get 203 pips at the end of year, that was good profit. So you used $0.1 each pips so in 100 pips you got $10. Link to comment Share on other sites More sharing options...
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