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Short 1 (100) @ 9164
Stop @ 9311 (-147)
Target @ 8827 (+337)
Entered on a break of the small consolidation pattern that usually signals a continuation of the trend.
Once price started moving, I moved the stop to 9254, the middle of the consolidation.
Stop moved to 9159 (+5 pips).
 Click above for larger image I got stopped out for +5 pips.
As you can see, the trade would have worked pretty well if had kept the stop where it was! Don’t move stops, don’t move stops. I could have made 220 pips all the way down to the low. The great thing was that the market respected the consolidation area and proceeded down after testing it from below. This gives me a little confidence that I’m trading a more ‘normal’ market.
Short 1 (100) @ 6616
Stop @ 6885 (-269)
Target @ 6075 (+541)
Support level break of 6726, nice bear candle.
 Click above for larger image Stop moved to 6611 (+5)
Stop moved to 6222 (+394)
I moved the stop in really tight to protect profit because I was going to sleep. In hindsight I should have given it a little more room to breathe but I don’t mind taking the profit off the table. I could always re-enter. It ended up hitting my inital target after I exited. I’ll take 394 pips any day of the week.
 Click above for larger image Short 1 (100) EURCAD @ 6616
Stop @ 6885 (-269)
Target @ 6075 (+541)
Sold on a break of the support level at about 6726. It looks like it wants to drop more, so we’ll see how it goes.
I have looked at the screens night after night and wondered if scalping the EURUSD would really work. It couldn’t be too hard with a 0.9 pip (on Oanda) spread right? If the market moves 1 pip, I make money!
So I decided to try it. Just target 2 pips and get out. Luckily it worked but I realized that I need to have a better strategy if I’m going to be doing this on a more regular basis.
I see scalping as a good way to
Click here to continue reading My First Scalp >>
Traded the USDCHF last night. I messed up on the first trade and put the stop too tightThe second trade was a revenge trade, I was chasing. Not good trades.
Trade 1: Short 1 @ 1186, Stop @ 1221
Result: Stopped out
Trade 2: Short 1 @ 1147, Stop @ 1182
Result: Stopped out
Total: -70 pips
click for larger image
Took a small USD/CAD trade last night.
Short 1 @ 548
Stop @ 573 (-25 pips)
-25 pips, -$2.37
Here’s the video:
We’ll see how this one goes. I have been trading this “box” strategy for the past couple weeks with a good success rate, so tonight looks like a good time to give this a shot in the live account.
Asian Session High: 0063
Asian Session Low: 0019
Range: 44 pips
<stop> L(2) GBP/USD @ 0064
Stop @ 0018
Target 1 @ 0084
TS 1 @ 50 pips
<stop> S(2) GBP/USD @ 0018
Stop @ 0064
Target 1 @ 9998
TS 1 @ 50 pips
As you can see, I have a feeling that we are looking at a downward move tonight, but I’ll let the market take me in/out of the trade. We’ll see how this goes…
Not particularly proud of this one…
8:36 ET – <limit> S(5) USD/JPY @ 724, Stop @ 707, Target 4 @ 790, TS 1 @ 30 pips
Looking for bounce off support points on 15 min chart.
8:37 ET – Stopped out @ 707
15 min
4 hour
Trade Total: -17 pips X 5 = -85 pips =-$7.95 (-$795 in full account)
Trade Follow Up: Not a good trade. 4 hour chart was obviously down, not a good long trade!
1:52 ET – <stop> S(5) GBP/USD @ 9730, Stop @ 9712, T(4) @ 9760, TS(1) @ 30 pips
Breakout of Asian session range.
Moved Stop to 9730
1:59 ET – Exit(2) manually @ 9742
2:08 ET – Target reached on (3) @ 9760
15 min
Trade results: +12 pips X 2 = +24 pips
+30 pips X 3 = +90 pips
Grand Total: +114 pips = +$11.40 (+$1,140 in full account)
Trade follow up: Good trade, stuck to the plan and it worked.
Since I got stopped out on the first position, I decided to reverse because price broke the support point.
4:47 ET – S(5) EUR/USD @ 3670, Stop @ 3685, Target 4 @ 3640, TS1 @ 30 pips.
6:41 ET – Limit hit on 4 @ 3640
6:59 ET – Stop hit on 1 @ 3656
Trade Totals:
+30 X 4 = +120 pips
+14 pips
+134 pips = +$ 13.40
Click here to continue reading EUR Trade 2 >>
5:23 ET [Trade 2]- L(5) GBP/USD 628, Target 4 @ 641, Stop @ 613, TS 1 @ 25 pips. Looking for a continuation pattern on the upside, flag pattern.
6:00 ET – Stopped out.
Trade Totals: -15 pips X 5 = -75 pips
15 min
1 hr
Follow up: I shouldn’t have kept on beating my head against this trade.
I did two trades in the pound tonight. I should have stopped at the first loss.
3:30 ET [Trade 1]- L(5) GBP/USD 636, Target 4 @ 675, Stop @ 614, TS 1 @ 30 pips. Looking for a continuation pattern on the upside, flag pattern.
5:04 ET – Stopped out.
Trade Totals: -17 pips X 5 = -85 pips
15 min
1 hour
Follow up: The flag range wasn’t big enough to really call it a flag. I shouldn’t be trading that pattern anyway because it is risky.
1:30 ET – S(5) GBP/USD @ 356, Target 4 @ 331, Stop @ 375, TS @ 25 pips.
4:02 ET – Stopped out @ 375
Totals: -19 pips X 5 = -95 pips (-$9.50)
15 min
Click here to continue reading 7/16 Trade 2 >>
OK party people, I’ve been out of it for the past couple days, but here are the last trades that I did.
00:57 ET – L(5) USD/JPY @ 2185, Target @ 2217, Stop @ 2167, TS @ 30 pips
5:06 ET – Stopped out at 2167
Totals: -18 pips X 5 = -90 pips (-$7.40)
15 min
Click here to continue reading 7/16 Trade 1 >>
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