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2010 February | Forex blog - JPY forex fan - Part 3

Forex blog – JPY forex fan

A forex blog about making pips in any currency pair

Welcome to my forex blog. I am a great believer in luck and I find that the harder and smarter I work the luckier I get. :-)
February 26th, 2010

UPDATE: Trade #4 entirely closed

jpyforexfan

Manually closed addition 4 @62.05 for a loss of 63 pips. It’s the last business day of the month. I should have known better.

February 26th, 2010

UPDATE: Original stopped out at +28 pips

jpyforexfan

During the Asian session my original trade #4 has been stopped out for a profit of 28 pips. Oh, I could have closed it yesterday when I closed additions 1,2 and 3! Oh, no! Ha ha! :-) I am not gonna think like this anymore. No greed, no regret. No profit is bad in forex, and that was a profitable trade. But let’s wait and see what happens with addition 4 which is a major disaster by now at -58 pips.

February 25th, 2010

UPDATE: Addition 4, Short @61.42

jpyforexfan

It’s 19:50 (GMT). I just shorted NZD/JPY @61.42 with a SL @62.18 and Take Profit @61.03. The idea is to benefit from corrective upslope of the last 3 hours for another downward movement.

In addition, I set a Take Profit of 60.84 for the original trade.

It is 16:38 (GMT). I just closed additions 1, 2 and 3 @ 61.03. Profitability: +70, +40 and +11 pips respectively. The original short @62.23 with a Stop Loss @61.97 remains.

February 25th, 2010

UPDATE: Added short NZD/JPY @61.14

jpyforexfan

I put the Stop Loss up there @ 61.97 together with the rest. This component of trade #4 is supposed to work as a very, very short-term trade. Hopefully, the SLs are not going to be hit; otherwise, with risk aversion and the data release an hour or so ago, trade#4 is supposed to be looking good.

It’s 14:25 (GMT). I moved the SL of the 2 additions of trade #4. Bernanke is speaking now, and Wall Street is opening in just about 5 minutes.