200+ pips on GBP/JPY

Made over 200 pips on this GBP/JPY pair.

This trade has increased my portfolio by 6%. Overall still down 14%.

Stop Loss of 148 pips on EUR/USD

Got hit by a 148 pips stop loss. Update from my trade last night. And another from NZD/USD this morning of with a 59 pips loss.

Get back up!

After a long break...i was getting a bit impatient for the lack clear trading signals.. The market is quite choppy for the past few days. I entered 2 trades today, both involving yen pair. The first trade was EUR/JPY. Exit with a 53 pips loss. The indicator show slight reversal and i got a bit defensive and ended the trade early with small losses, however the trend was still intact after few hours later though it is not a strong one.

Second trade was GBP/JPY, was side trending for few hours. Down up to -40 pips at a time and up +60 pips at a time but ended up with only 2 pips gain after i meddled with the stop loss level.

At the current time of writing this post, i have already entered another trade, long EUR/USD after confirming the signals. It cleared 3 time frame. And with US data being released, it should aid the trend for a while. Later Treasury Geithner will be having a speech on 'Addressing the Need for Comprehensive Regulatory Reform'.

After suffering from my longest streak of losing, my confidence was dented. I was afraid to trade again. Even when the signals indicated a trend, i was being too defensive, afraid to take risk however small it is. Until i stumbled upon the video clip with a powerful message. Enjoy it.

GBP/USD at 60 pips

Yesterday i entered a long position on GBP/USD upon seeing a breakout but the momentum did not sustained, and in fact it reverse on the second hour after the breakout. Cost me 60 pips.

Down to Earth

Its been 2 days since i have difficulties getting internet connection. Meanwhile i have completed 5 trades since then...won 2 lost 3. Overall my portfolio reduced another 2%. Somehow i lost focus, after the first win, maybe i acted out of over confidence, increasing my lot size and my risk appetite. Failed to go through the economic calender before i trade. Did not pay attention to economic news release.

So tomorrow will be a non trading day.

Short GBP/JPY at 132.52

Shorted GBP/JPY at 132.52 after it cleared the 2 time frame. Entered after it pullback about 100 pips.

Profit take at 300 pips, it will be a exciting journey.

The trade ended at Stop Loss of 148 pips. Should have ended it earlier when other Yen crosses also showed signs of reversal. Lesson learned.

Buy EUR/USD at 1.2744

Enter long position on EUR/USD at 1.2744 upon watching it clear 2 time frame.

Having watched other USD pairs weakening giving confidence on this trade. Closed the trade early with 3 pips gain.

Cheers.

Short GBP/USD at 1.4121

Short GBP/USD at 1.4121 after watching it cleared all criteria.

Profit target at 1.3900

Exit at Trailing Stop with a profit of 53 pips.

Yeah...

Stop Loss Hunting

To avoid getting trap by Stop Loss Hunting,

1. Avoid trading at time when the volume is low as it makes it easier for institutional to hunt for your stop loss level.
2. Avoid placing stop loss level too near support or resistance level.
3. Avoid trading currency pair with low liquidity.

Happy trading.

Buy EUR/JPY at 124.65

Buy EUR/JPY at 124.65 with a buy limit order after watching it pullback at GMT 3:00.

Cleared 3 time frame criteria. A good indication to buy. Although the timing is a bit too early.

Manual exit with a loss of 47 pips.

Can you handle it?

i had the chance to watch the re-run of the movie, Jerry Maguire last week. And somehow this scene struck me...pay close attention to when Jerry (Tom Cruise) tells Rod (Cuba Gooding Jr) why he still don't have his 10 million dollar yet.

Bank of England (BOE) cuts interest rates.

Short GBP/USD at 1.4060 after the Bank of England interest rate announcement. Anticipating the prices to drop drastically after the initial volatility but only managed to gain 2 pips due to tight Trailing Stop.

BOE decisions to cut interest rate were in line with market expectation. The questions is now centred on BOE's policy on quantitative easing.

Official Receipt

The official receipt for the donation that i pledged after i won the 2,000 pips challenge.

For those who wanted to contribute to the charitable causes can do so at Sau Seng Lum.

Feels glad.
Cheers.

Long USD/JPY at 98.19

Entered long USD/JPY at 98.19 immediately upon seeing it clear all criteria. This time i placed a bigger SL to give it room to pull back.

Take profit of 211 pips.

UPDATE
Exit at Trailing Stop of 98.38 for a 19 pips gain.

Short EUR/USD at 1.2598 (2nd time)

I re-enter short EUR/USD at the same price.

Short EUR/USD at 1.2598

Short EUR/USD at 1.2598

Upon clearing all criteria, I entered the short position instantly. With risk aversion continue to be the flavor of the week, we can expect US Dollar to strengthen further. With more auto companies asking for government bailouts, coupled with AIG group asking for federal assistance of additional $30 billion loan in return for ownership. The data looks bleak on all fronts.

Take Profit at 1.2400 for 198 pips. Watch out.

Cheers!