Thursday, December 14, 2006
Forex day Trading System - My trade yesterday
Forex day Trading System - My trade yesterday on EUR/USD
Let me give you a summary of the trade I placed yesterday at 8:15 AM EST..Please note specifically the time. It was a swing trade which means that I placed the trade using 1 hr chart..My indicators were all lined up such as MACD, RSI, EMA (Exponential Moving Average)
etc.. and Candlestick was bullish..
So, here is what happenned - I placed the trade and within 10 min. I was 5 pips in profit..Good enough..I generally was looking a profit of 100+ pips using this forex day trading system..
5 min. later at 8:30 AM, all of a sudden I started going in loss with rate of 1 pip a second..and with in 15 min my trade touched stop loss of 55 pips..
Now, why this happenned?? In the forex news calender, there was no important news..I checked that before I placed the trade..
No, infact one of the news that broke at 8:30 was important and it moved the entire forex day trade against me and I hit the stop loss. So, learn this in forex trading online that be very watchful when you are about to place a trade close to 8:30 AM.
Infact there is another point I observed that I should tell, but thats in next post.
So, keep visiting to learn more on forex trading online
Let me give you a summary of the trade I placed yesterday at 8:15 AM EST..Please note specifically the time. It was a swing trade which means that I placed the trade using 1 hr chart..My indicators were all lined up such as MACD, RSI, EMA (Exponential Moving Average)
etc.. and Candlestick was bullish..
So, here is what happenned - I placed the trade and within 10 min. I was 5 pips in profit..Good enough..I generally was looking a profit of 100+ pips using this forex day trading system..
5 min. later at 8:30 AM, all of a sudden I started going in loss with rate of 1 pip a second..and with in 15 min my trade touched stop loss of 55 pips..
Now, why this happenned?? In the forex news calender, there was no important news..I checked that before I placed the trade..
No, infact one of the news that broke at 8:30 was important and it moved the entire forex day trade against me and I hit the stop loss. So, learn this in forex trading online that be very watchful when you are about to place a trade close to 8:30 AM.
Infact there is another point I observed that I should tell, but thats in next post.
So, keep visiting to learn more on forex trading online
