Simple Trading - page 5
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I had that trade up to 50 again yesterday and again I decided to let it run, feeling pretty confident that it would close by now but it hasn't and it's sitting right now at -16 so if it hits 1 again I'm just going to take it, this trade is taking up way too much of my trading week for this account.
Ok it swung back up and I closed it for $2.99.
Multi time frame analysis of AUD/USD yielded a 6, so I bought it.
I was a little bit worried when I heard that the fed had cut rates by 50 base points, but regardless AUD/USD hit my profit target for quick 100 pips at 2:00 PM today
. This brings us up to $281, past the halfway point for level 1.
Multi time frame analysis for USD/JPY yields a negative 6 (surprise surprise), so I'm selling.
Edit:
It's Friday now and this trade still hasn't closed. It's sitting at -47 right now. What a slow week.
Well USD/JPY finally completed its leg down and I lost the 100 pips I'd made, but im actually just glad that im able to finally get into a new trade. If there' s one thing I hate more then losing pips, it's waiting days to do it. That trade was really a slow death. Oh well, move on, move on. Now we are back at 185, in need of some healthy trades to bust through level 1.
EUR/JPY yields a negative 6, so I just sold it.
UPDATE: Geez...it's 10 minutes into it and it's up 54 points already. I'm tempted to close it now and recoup half of the losses, because a spike like this usually goes right back where it started....40 min later and it has rebounded to about 24 points..im gonna let it ride though.
UPDATE: It's the next day, the trade closed for a profit of 100..bringing us back to 285.
I sold AUD/USD yesterday, analysis yielded a negative 2. The MAs in the higher time frames were canceling each other out but it focused to the selling side on the 1 hour time frame. It got a strong start and reached a high of 49 pips positive but today it got yanked back and is sitting at 9.
The AUD/USD trade has started out well but it closed me out for negative 100 today.
Now we're at 174..negative roll ate away at the balance because it was open for more then a day.
EUR/JPY yielded negative 4 and I sold..so far so good.