Making FOREX work for me - Page 3
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Thread: Making FOREX work for me

  1. #21
    This NZDUSD informative article has become quite ugly. I have reduced my risk by roughly 1 percent and put my stop just above todays high in .8433. I really don't want to see this heading up there again. We're not closed yet on the daily however we do have lower highs and lower lows for yesterday and today so there's still some hope. Let's see how it goes.

  2. #22
    Tonight I have put my first short order for a trade based on Jarroo's method (Over at the James16 thread). I'm only learning this and I wouldn't normally take a live trade like this without ahead testing, however, this GPBUSD does seem like it's coming down and there are a lot of reasons to be short on this from round this area.

    This weekend I will write up and post a strong'trade egy' with specifics on how I'm hoping to make my investment work over the next few years. I will post this mainly to keep myself focussed.

  3. #23
    Pleased to say my initial'Jarroo style' trade was a success. I have just shut it for 105 that gives me #29 on my account. I was looking at riding this somewhat lower but I really don't like to have a lot of places open over the weekend (too many being two in this case).

    My NZD short remains available. Currently knocking around the BE mark. It has been a demanding weathered ride on this. I have been tempted a few times to bond. I am keeping an eye on some decrease timeframe levels and looking to decrease my risk onto it further.

    Deposits: #1000
    Profit/Loss: # 29
    Complete: #1102

  4. #24
    The NZDUSD was stopped Outside for BE. I have been tempted to brief AUDJPY tonight, but I have been stung going against this trend once already. Going to have a cup of tea and decide then wether to take it.

  5. #25
    After my cup of tea I decided not to get in that AUDJPY trade last night. I don't want to be moving against a trend like that, I would much rather be with it which leads on to tonights trade set up.

    Sorry about my crap Microsoft paint job, but I think that the chart should inform the story.

    1. Massive up tendency hits big round number 90 and retraces.
    2. Prev resistance was confirmed as support. It was tested again now and refused to provide us todays...
    3. Pin bar sign.
    4. Some stochastic divergence for a bit of confluence.

    Hoping this will go to get a retest of 90. I'll be seeking to take profit . Stop loss a couple of pips below the low of now.

  6. #26
    Closed the above at FTA for #25.

    Deposits: #1000
    Profit/Loss: # 25
    Complete: #1125

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