I am a swing trader, as of september 2012 I am only considering mid/long term trading that mean holding position for months, I think this is the safest way to trade FX and at the very long run impacts results in positive way.
Three chief components I use in my trading:
So my friday entrance end up about 120 pips underwater....Never ever forever whatever depart your position available for the weekend should you daytrade.
PERIOD
Lesson heard somebody should slap me for my stupidity.
I am taking some reductions back atm along with my entrance.
EUR/USD
Entry 1,2640
SL 1,2655 transferred to BE 1
TP 1,2520
My daily target is about 60 pips so that I will secure my position @2580 if possible.
I immediately made a decision to shut that buy for -2pips as M15 movement was not strong enough for me to believe we can go higher.
Monday is always weird day to exchange but I decided to open my closing trade for now.
All I want is 40 pips from this movement for now to decrease loss 50 percent
Entry
12610
SL
12625 transferred to BE 1
TP
Daily pivot point
12505 http://postimage.org/image/caxvizjej/full/ http://postimage.org/
Shortly before I went to see UK vs UA game which was among the best of euro 2012 imo I put two brief sells on E/D 20 pips at the bag and NZD/USD that I had been waiting for the last two days and finally found my shirt to ride this swing down.
I choose 7700 as a round number but I'd really expecting 7725 because it is a monthly pivot point anyway that is a excellent rr exchange
Selling euro as well
I was not especially happy with Euro move last night as it finished as BE few, same happened with Nzd which is still trying to find her top
I equaling her again with a larger SL and selling Euro atm. I moved SL in BE so I'll leave it like this for Ben to decide what to do.