JCL's Forex: Forex Trading Life |
| Posted: 16 Jun 2009 09:54 AM PDT Hello all, All of the Drop In trades yesterday on the 4 hour (EUR/USD, EUR/JPY, USD/CAD, USD/CHF, GBP/JPY* & AUD/USD) have their stops losses moved to break even (entry) as they have moved 1/2 ATR in profit giving us free no risk trades now. *I missed the gbp/jpy trade so it will not be in my open positions below. EUR/JPY & USD/CAD both stopped out at break even (entry price) and we are looking for re-entry. Check the update as the day progresses to keep up with the day's activity. I am happy to have gotten all of those trades to b/e, yesterday I thought they would all be stopping out - http://forextradinglife.com/jcls-forex/june-15-2009 4 Hour: Drop In re-entry: EUR/JPY buy USD/CAD sell  8 Hour: Drop In re-entry: EUR/JPY buy Watching: USD/JPY buy Drop In  Subscribe to these updates by email or rss feed here. You can also follow me on Twitter here.
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| Posted: 15 Jun 2009 04:22 PM PDT Hello all, More profit taking on our open orders expected this week. We also have a few new trades coming as the pullback has begun. Too soon to know if it is too soon to enter or now, we can only follow what works - our trading plan. 4 Hour: Current Drop In Criteria: EUR/USD buy EUR/JPY buy USD/CAD sell USD/CHF sell Watching: USD/JPY short ZLC AUD/USD buy Drop In  Coming off a month of strong profits as we were able to catch a good portion of all trending pairs it is important to remember not all trades are going to be winners. What is important to understand that our risk/reward on each trade ranges from at least 2:1 to 9:1 so we know that after taking several losses it will only take us a few profitable trades to recover from any draw down. Also we simply do not know what is going to happen at any time and these new entries may just continue to extend our gains on our current positions. Subscribe to these updates by email or rss feed here. You can also follow me on Twitter here.
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