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Trade #4 | Forex blog - JPY forex fan - Part 2

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 25th, 2010

UPDATE: Moving Stop Loss down to 61.97

jpyforexfan

It’s 14:01 (GMT). I just moved the SL of the original trade within Trade #4 (which by now has 2 additions). The original trade is now at +28 pips.

Bad data was released about US economy at 13:30. Core Durable Goods Orders m/m came out half the expected value, and weekly unemployment jumped some. Stock futures show DJIA is ready to start with a plunge.

February 25th, 2010

UPDATE: Moving SL down to 62.11

jpyforexfan

I am moving the SLs of both the 1st and the 2nd addition of trade #4 down to 62.11 That is slightly above the resistance area of 61.80/61.99.

February 25th, 2010

UPDATE: Added Short NZDJPY @61.73

jpyforexfan

Another short of NZD/JPY @61.73 SL 62.29 Target: Open
My previous entry wasn’t correctly placed really. Impatience is one of trader’s nastiest enemies.

February 25th, 2010

UPDATE: Added a short of NZD/JPY @61.43

jpyforexfan

After moving down the SL into profitabilty, I opened another short position in NZD/JPY @61.43 with a Stop Loss at 62.28. Target: Open

February 25th, 2010

UPDATE: Stop Loss moved to 62.07

jpyforexfan

I just moved the SL down to 62.07, so the trade would end up profitable (+18 pips) even in the worst case scenario. Right now it is at +64. Now, I am going to be on the lookout for an entry to open another short position.

February 25th, 2010

UPDATE: NZD/JPY trade at +68 pips

jpyforexfan

Hello, guys. It’s 6:41am (GMT) Thursday. Things have transpired really well during the Asian session, with the JPY samurai hunting quite a few NZD kiwis :-) Trade #4 is currently at +68 pips.
Wishing you success.