Simple Forex Trading

Scalping

2008-07-06T08:28:00.005-06:00

Here are 2 trades from Thursday.
One long (-1.9 pips) and one short (+8.3 pips). Profit 6.4 pips

eur/usd - 1 min chart

Short eur/usd

2008-07-01T06:14:00.006-06:00

Short uer/usd @ 1.57955. Closed @ 1.5780 for quick 15.5 pips profit.

eur/usd - 1 min chart

More day trading

2006-04-21T06:00:00.000-06:00

I'm doing more and more day trading and don't have time to regularly take screenshots and update this blog. So I won't post here much anymore. Maybe just every now and then.

Another eur/usd down day

2006-04-07T09:40:00.000-06:00

After better than expected NFP price jumped around a little and then sold off like yesterday. Got a few shorts again.
What I did today and yesterday was very aggressive trading - as the results show: +4.13% yesterday and +3% today. The risk was also higher than usual but not too high - I was moving stops closer when adding new positions.
After big profit or a wining streak a losing streak usually follows. Will have to be extra careful next week.

On a chart below you can see trades from yesterday and today. It's such a nice picture so I had to show yesterday's trades again :)

eur/usd - 30 min chart

Day trading Eur/Usd

2006-04-06T17:21:00.000-06:00

Eur/usd made a new high for the year but was not able to hold on and it retraced and eventually sold-off. I caught a few nice shorts on a way down. Closed all traders today. The trend is up so this counter trend trades should not last long.

eur/usd - 1 hour chart

eur/usd closed

2006-04-04T08:09:00.000-06:00

S/l hit @1.2050 (+26 pips). It went back up after that and it's 200 pips higher today. Annoying.

Moving s/l

2006-03-31T07:54:00.000-06:00

Eur/usd came down fast today. Closed last trade @1.2104 for +4 measly pips.
Moved s/l of previous trade to 1.2050.

Long again

2006-03-30T08:32:00.000-06:00

Another long position @1.2100. immediately after I went long price jumped up. I was lucky this time - usually it's the other way around.

Moving stop-loss

2006-03-30T06:52:00.000-06:00

Moving s/l to 1.2030.

Long eur/usd

2006-03-29T10:27:00.000-06:00

Long eur/usd @1.2024, s/l @1.1980.

eur/usd - 30 min

Closed eur/usd

2006-03-23T09:10:00.000-06:00

Closed eur/usd @1.2033 (-39 pips) after better than expected "Existing home sales", 1.2050 was broken so I got out.

eur/usd - 15 min chart

Long eur/usd

2006-03-23T02:43:00.000-06:00

Long eur/usd @1.2072, s/l @1.2012 (60 pips).

Taking profit

2006-03-17T14:03:00.000-06:00

Closed eur/usd @1.2191. Profit: 136 pips.
After a whole week of closing higher I think it's time for a retracement before continuing higher.

Eur/Usd - 3 hour chart

Setting a stop-loss order

2006-03-16T14:19:00.000-06:00

Setting s/l @1.2060.

Long eur/usd

2006-03-15T08:32:00.000-06:00

Long eur/usd @1.2055.

Too busy

2006-03-07T17:15:00.000-06:00

Hmm, no time to regularly update this blog. Will try harder :)

Back to trading

2006-02-06T06:14:00.000-06:00

I took a whole month off. It's good to get away from trading occasionally.

stop-loss hit

2005-12-20T13:21:00.000-06:00

Gbp/usd stopped at 1.7590 (+40 pips).

Moving s/l

2005-12-19T11:36:00.000-06:00

Moving s/l to 1.7590.

Long gbp/usd

2005-12-12T09:06:00.000-06:00

Long gbp/usd @1.7550 from Friday. S/L now @1.7570. Daily chart with 50 SMA (yellow)

Stop-loss hit

2005-11-29T08:06:00.000-06:00

That was fast. In less than 30 min s/l was hit (-40 pips).

Short eur/usd

2005-11-28T11:54:00.000-06:00

Short eur/usd @1.1800, s/l @1.1840.

Short eur/usd

2005-11-12T10:48:00.000-06:00

Just one trade in eur/usd this week. Short @1.1815. Closed half @1.1730 (+85 pips). Closed other half @ 1.1690 (+125 pips).

3 hour chart. Blue rectangle was buy order for closing half position. Pale yellow/orange rectangle is modified order. On the chart you can also see a false spike of almost 200 pips on Nov. 7th which should be removed during the weekend.

Closing gbp/usd

2005-11-01T14:45:00.000-06:00

Closed all gbp trades yesterday after better than expected Chicago PMI @1.7731. That's +33 pips (average) per position, 6 trades x 33 = +198 pips total. Well, it didn't go as planned and I left a LOT of pips on the table.

1.7900 touched

2005-10-27T16:45:00.000-06:00

Gbp/usd touched 1.7900 today but then retraced fast. Would like to see another up move and will then start taking profit.

6 in a row

2005-10-25T08:30:00.000-06:00

6 Gbp/Usd longs - 3 hour chart

1.7800 broken

2005-10-25T08:03:00.000-06:00

Another gbp/usd long @ 1.7818. Average price now 1.7698.

Long gbp/usd

2005-10-25T07:43:00.000-06:00

Long gbp/usd @1.7790. 5 long positions. Average price 1.7662.
1.7800 was broken by few pips. Went long on a retracement. Sitting at small loss at the moment.
Let's see if break of 1.7800 will be confirmed.

Long again

2005-10-20T08:21:00.000-06:00

Long gbp/usd @1.7690.
Now I have 4 long positions. Average price 1.7622.
No s/l set at the moment but it's on a "daily close basis" - if it will close below 1.7600 I'll close manually.

Adding longs

2005-10-20T05:50:00.000-06:00

Another small long gbp/usd @1.7633.

Long gbp/usd

2005-10-19T08:50:00.000-06:00

Long gbp/usd @1.7565 and 1.7601.

Closing eur/usd

2005-10-13T06:20:00.000-06:00

Closed remaining position @1.1983 (+126 pips).
Now will wait for news to see new direction. Right now price is just sitting here for hours.

Closing trade

2005-10-11T14:49:00.000-06:00

Closed 2nd position @1.1992 (+92).
Leaving first one open but moving stop to 1.2080.

Short eur/usd

2005-10-10T08:59:00.000-06:00

Downtrend continues. Short from 1.2109 and 1.2084.

Closing trades

2005-10-07T06:35:00.000-06:00

NFP -35k (consensus -150k). Closed both trades @1.2121 for miniscule profit.

Long eur/usd

2005-10-07T05:23:00.000-06:00

Went long after Initial Claims @1.2072 and when 1.2100 was broken added @1.2114. Then closed platform. I see now it went above 1.2200. Up 300 pips in 2 days. Hindsight: Could have taken quick 100+ pips because we're still in downtrend on a daily chart.
Well I'm long now waiting for NFP. Don't see much point in taking less than 100 pips profit.

Below 1.2000

2005-10-05T17:24:00.000-06:00

1.2000 was broken and strong downtrend continues. But momentum is fading a little. We have NFP on Friday and since I missed good entry price I'm staying out.

Strong USD

2005-09-27T13:08:00.000-06:00

For the last 3 weeks eur/usd is going down without any real retracement.
I was busy last week - no trading (except small gbp/jpy shorts, but this blog is mainly for eur/usd trades).
We are now around 1.2000 and it will be interesting to see what will happen now. Will it break or bounce?

Going down

2005-09-19T17:29:00.000-06:00

After false upside breakout eur/usd is going in only one direction for the past 2 weeks - DOWN. Let's see what will happen at FOMC announcement tomorrow.

Stop-loss hit

2005-09-12T11:03:00.000-06:00

Eur/usd stopped @1.2340. Usd/chf stopped @1.2510. So much for this false breakout and new trend. Only good thing is that this positions were very small because I missed the breakout entry and jumped in later. Now we're back in the range.

Sliding lower

2005-09-07T06:09:00.000-06:00

Eur/usd still slowly sliding down. On a daily chart it looks like consolidation in an uptrend but I wouldn't like to see price breaking much below 1.2400.

Range day

2005-09-05T17:04:00.000-06:00

Price held in a tight range. Nothing changed. Stops still below 1.2350.

Adding positions

2005-09-02T07:43:00.000-06:00

Bought eur/usd after bad NFP number @1.2535 and sold usd/chf @1.2307. Stops WAY out of reach - like yesterday.
Mixed reaction after NFP, usd is gaining a little. That's ok, charts are overextended and small correction is needed before another push higher.

Long Eur/Usd

2005-09-01T16:12:00.000-06:00

Long eur/usd @1.2497. Short usd/chf @1.2350. Small positions with "catastrophic" stops (just in case) of aprox 180 pips. If situation will change dramatically I'll close before stops will get hit. Now waiting for NFP tomorrow.

ISP problems

2005-09-01T11:21:00.000-06:00

I was offline today and missed all the fun. Eur/usd jumped out of the range and crossed 100 day MA. But it stopped just below of the previous high @1.2485. For a confirmed uptrend it must break this level and also 1.2500 which I think is strong psychological level.
Now I'm looking for entry. A small dip would be nice before a new high. And there's NFP tomorrow which is always unpredictable.
Waiting for a dip or a new high to go long.

Big jump

2005-08-31T10:12:00.000-06:00

Well market got a kick - but in the wrong direction. Stops hit, eur/usd (-50), usd/chf (-56). After last 2 day's sup/res levels were broken it seemed logical to reverse positions. Went long eur/usd @1.2265 (+32). And since chf was stronger today went short usd/chf with 2 positions, @1.2633 (+68) and 1.2621 (+36) - total 136 pips for all 3 positions. So with a bit of luck I covered the loss plus a few extra pips. Didn't try to "ride the profits" because I like to trade with the daily trend and this jump puts us right back into the range on a daily chart - no trend.

Eur/usd 30 min chart - First blue triangle shows manualy closed (buy) previous short position.

Usd/chf 30 min chart - Red circle = s/l hit. Then 2 shorts - closed lower manualy.

Boring

2005-08-31T04:46:00.000-06:00

Nothing is happening. Price is hanging on the trendline. This market needs a kick in the A$$.

False breakout?

2005-08-30T14:38:00.000-06:00

Looks like false breakout but price is still near trendline. I have another sell order just below today's support @1.2160 (and buy usd/chf @1.2755) in case there will be another push lower.

EUR/USD Breakout

2005-08-30T04:32:00.000-06:00

Lower trendline was broken. Below is a 15min chart showing trendline (yellow), entry price - short @1.2200 and s/l @1.2250. We are still above 50 day MA so this breakout needs confirmation.
I'm also long usd/chf @1.2708, s/l @1.2652

EUR/USD daily

2005-08-29T04:57:00.000-06:00

The daily situation is still unchanged (see daily pic below). Price is trapped between ascending and descending trendline. But trendlines are coming closer and we will see a breakout this week. And there's NFP on Friday which should also give some direction.

Usd/chf closed (+60)

2005-08-26T16:49:00.000-06:00

Usd/chf stopped @1.2600 (+60)

Waiting for action

2005-08-26T04:59:00.000-06:00

More range trading overnight and early Europe. Nothing really happened.
Still short usd/chf.

Closing half usd/chf

2005-08-25T13:08:00.000-06:00

Closed 50% of usd/chf @1.2555 (+105)
Moving stop to 1.2600

EUR/USD daily

2005-08-25T04:09:00.000-06:00

Resistance @1.2255 was broken yesterday but it wasn't very convincing breakout. Maybe this level lost it's significance because it was broken several times this month. We are now caught in beetwen 2 MA lines and also 2 trendlines - longer term downline and shorter term upline. There's aprox 100 pips to either side and it will get interesting as we get there. For a confirmed medium term uptrend we need to first clear 1.2400 and then make a new high above 1.2485.

Usd/chf stop moved to 1.2630.

No follow through

2005-08-24T12:01:00.000-06:00

That was not a breakout I was expecting. Long eur/usd stopped @1.2230 (-40). Then it reversed back up. I removed buy order and will wait to see what will happen next.
Still short usd/chf. Stop @1.2720

Resistance broken

2005-08-24T07:25:00.000-06:00

Shorts have been closed @1.2260. Average result -35.
Buy order filled @1.2270. I have another buy order @85 if uptrend will get some strength.
Also sold usd/chf @1.2660.

Buy order

2005-08-24T06:32:00.000-06:00

I have a limit buy order @1.2270 just in case 1.2255 resistance get broken.

Non event

2005-08-24T05:12:00.000-06:00

Nothing happened yesterday. Price held in tight range. 1.2190 Support was broken today before London session but price rallied back up after good EU numbers. Now we wait for US numbers today.
First support now slightly lower @1.2160-80 and more important @ 1.2125. If that one goes I'll probably add another small short position.

EUR/USD

2005-08-23T05:23:00.000-06:00

Eur/usd held in narow range yesterday afternoon, 1.2240-1.2220 and is now testing 1.2255 resistance. S/L @1.2260 still holds (so far) but price came very close - within 5 pips. Support now @1.2190 was already tested and rejected today.

USD/CHF closed

2005-08-22T06:30:00.000-06:00

Closed usd/chf @1.2700 (+30). It was getting close to my s/l.
Eur/usd still open. Price is pushing higher for a test of 1.2255.

Short eur/usd, long usd/chf

2005-08-19T11:08:00.000-06:00

Sell order @1.2240 was filled while I was away. Adding to shorts on a way down. Average price now 1.2225. All stops @1.2260.
Long usd/chf @1.2670. Stop already @1.2680 (+10).

With support 1.2255 broken we may be on a way to 1.2000 (psychological) and possibly test of recent lows @1.1870. But in this times of low liquidity (holidays) dealers are pushing price up and down violently in search of stops and some action. Today was a good example of that. Be careful.

EUR USD daily

2005-08-19T10:21:00.000-06:00

When resistance @1.2255 (multiple July top) was broken on Aug 3rd I turned bullish on eur/usd. Went long after break @1.2280 and made profit by partially closing on the way up (won't give details since those trades are already closed now).
But since the price was not able to clear 1.2500 and especially now that previous resistance/now support 1.2255 was broken I'm now bearish.