"Take Risks: If you win, you will be happy; if you lose, you will be wise. Nothing ventured, nothing gained."

Wednesday, February 16, 2011

Guerilla Hit and Run and Smile and Cheer!

Been a nice few weeks back, gambling pokering trading having fun etc etc... Just like Black mentioned earlier. Black is a total poker addict, LOL. Whereas for me, i only do weekend "live" pokering with him and a bunch of our friends. Who knows in future i may turn addict too? haha, its fun i have to admit, the thrill n suspense... im kinda falling in love with it. Hur hur.. But as for now, im still a very forex trading dude.

Did 3 trades during those period, results were positive... fortunately.. LOL. The images below tells my story.

Picture shows EUR/JPY pair. Did a LONG trade on a pullback as pointed by the RED line. 3 horizontal line each representing my SL, entry point and TP.

This trade ended up with a +1 pip. Due to my cautious nature, i put my SL to breakeven after gaining an unrealize profit of 30 pips. The price fall back and hit my breakeven and went up -.-
Perhaps i should just let it run? Well, past bad experience makes me come out with this move.

Long for this EUR/USD pair.. Long on retracement after a fall on price. Same as above, RED line points to my entry and 3 horizontal line shows my SL Entry and TP level. TP hit for this case. It would have been the same result as my EUR/JPY pair if i had the time to pull up my SL to breakeven. Luckily, i did not and though the price did went back to - a few pips.. it went back up and hit TP. +30 - 40 pips i think? cant remember.

Long GBP/JPY pair, this is one of the more preferred type of outcome. Straight forward, no slippage no scares no pullback. Upon entry at RED line pointing, price went up and never looked back. Comfortable +40 or more pips.
O, forget mention that my entries are based either on 4H or 1H. Whichever resistance/support is nearer to price. SL would be max 40pips or last high/low. TP at last high/low or resistance/support whichever nearer.
Hope these helps!!

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