I just entered in a risky trade.
Its a risky trade in this sense:
I entered in this trade without getting any strong signal from my indicators and analysis.
Entry: Long AUD/USD
I am little biased by this market, I expect AUD/USD will rise again. Might be it will, might be it will not!
Market has opened some times ago. There was no significant gap and I am not interested to open another trade with this market now.
Check my last post and I am in 60 pips floating loss for being greedy in Friday. I traded against the trend and now being punished by the market.
Anyway, there are several reasons why I think soon or later this trade will close with profit.
If you say, don't try to chase the market, I will say, I have a stop loss!
I just made one trade today.
Entry: Short EUR/USD
Profit: 20 pips
If I close my AUD/USD trade right now, my total gain in this week will be 12 pips and I will be in profit for consecutive 2 weeks.
I got 20 pips yesterday and the running trade is in 8 pips loss. I am more interested to hold this trade because dollar fails to keep it gains and AUD/USD currently trading above 14 day SMA line.
Its interesting to see no market movement due to FOMC. Today, I had expectation that after FOMC, dollar will be weaken but there is no notable movement till this moment. EUR/USD has fall 40 pips after FOMC but this movement is very low if I compare it with previous movement. Anyway, AUD/USD has succeed to hold it gain.
If AUD/USD doesn't fall again in the European session, then tomorrow we will see it above 1.07 or close to it. Market will say if I am wrong.
Good night and happy pipping!
I told you yesterday if AUD/USD doesn't go below 1.0600 in European session, it will rise to 1.07 or close to it.
That happened today! AUD/USD rose to 1.0683 and then it fell down again. But I locked my profit at 1.0673, got 40 pips profit with this trade.
So, total number of pips in this week is 20+40=60
Not bad at all, total gain till now is 13% of initial deposit.
I just opened another trade some times ago. I need to mention here that I ordered the buy trade in AUD/USD at 1.0607 (bid price) but before the trade is executed, market price becomes 1.0609. Like previous, this trade is also opened without any requotes and with 1 pips loss (it should be 3 pips since FBS spread is 3 pips for AUD/USD).
I really like it. That trade is already in 10 pips profit. I would miss this entry if FBS didn't open the trade at the price I ordered it.
Its great, this trade is closed with 48 pips profit.
So, total 108 pips profit in this week. Most probably, I will not trade today. The market is confusing and not at the level where I can order buy/sell.
Great trade laurel. I am observing your trade from many days.
I think you are maintaining a good MM.
Where most traders become crazy when they are on profit and take big risk to increase this balance, you are decreasing your risk in your trades.
Hope your good trading.
What a shame!
IMF chief is arrested for rape attempt and this pushed euro below 1.41 last week. Also, there is bailout problems of some European union countries.
Thats brought dollar again on the track. USA economy is improving quickly and after Laden is killed, Obama is in good form. It also boosted traders confidence on USD.
It is proved again, the safe heaven dollar will not lose its safe heaven appetite very soon. If EU is pushed below 1.40 next week, then be prepared for a dominating dollar in upcoming week!
Market will open tomorrow, I will sell euro if the downward rally continues.
Oh, I can consider it a nice compliment!
Thanks so much!! Forex market is challenging, there will be profit and loss always. I will try to make profit more than I will lose.
Only 1 trade in this week, just closed with 25 pips profit.
It was a bad entry but the exit is good, I am not glad because I bought in a falling market. USD starts losing strength again. There is high probability that it will loss strength in Friday also as well.