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There are no new trades today. It is hard to earn money when we
are not in trades but the market continues to give up earth on
this current tendency. It hasn't given up tremendous ground for the most
part it's small moves at a countertrend direction. There ought to be
a good break in 1 direction or the other when we get more economic
news releases. We will continue to wait and watch the charts.
Have a blessed day,
Jackie
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No new transactions were initiated yesterday today. We are in a fantastic
dimensions countertrend market at this time. Together with both open losses our newspaper
losses are adding up. Happily we are on the sidelines with our other
4 pair. It looks like that the market is shapping up well. Once the trend
resumes we should have plenty of space for profits, since the market
will have a long way to conduct it hits a resistance point.
If we attempt to rush transactions we could make sloppy decisions which could be
expensive. Right now we'll only sit on the sidelines and simply watch.
Jackie
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There are no new trades today. Our two open positions are taking heavy
losses because our countertrend has run deep. These loses are not
entirely unexpected.
4 of our positions are simply on the sidelines waiting for the oppurtunity
to maneuver in the market. I've experimented using a hedging egy
I may utilize in a similar market condition in the future. It is
based from opening a trade in a countertrend using a tight stoploss
when the trade breaks crucial support levels on the charts.
In the mean time we continue to watch the charts from the sidelines.
Enjoy a Fantastic afternoon,
Jackie
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I woke up to see we've taken a beating in the USD/CAD and GBP/USD.
It is unbelievable and it lookes as though our 1000 pip stop/loss can
well be hit.
I've experiemented with a few hedging egies that have worked
well in my personal account but I have not shared them only because
they're experimental. If our stops get hit we'll be come out of this
market and reassess the market movement prior to re-entering.
The next couple of trading days will be quite interesting.
Jackie
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Trailing stops triggered on the EURO and so far we're positive 34 pips
No alterations to transactions to note. Today was a good trading day. Let us see what tomorrow has in store for us. Tomorrow morning I'll like open two trades.
Take care,
Jackie
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No one ever said forex was easy money. Our GBP/USD trade hit it is
1000 pip stop/loss that we knew would eventually occur. If you
followed proper money management rules that has been a 10% reduction
on your account. Over all the market has been bullish on the dollar
we do anticipate this to undo and we will watch for the reversal. We
have already seen a big slowdown in the previous week.
One pair has reversed and we've placed a trade on that pair.
Sell Stop USD/JPY 108.50 with a 500 pip stop/loss. Just risk one precent
of account balance with this particular trade.
Have a Fantastic pippin afternoon,
Jackie