3:25pm

I'm hitting my head against the wall today and very disappointed in myself. Just a simple mistake makes me close my trade for nearly 50 pips loss instead of just a 14 pips loss. I should have actually closed the Long position at 1.63224 at the open of the candle at 12pm which was 3 hours ago but a quick scan through my phone made me thought that the trade is still valid so I just let it be.
40 minutes ago the price went South rather sharply, so I check the price once again and now via PC and lo and behold the trade should have been closed and a Short position opened 3 hours ago.

Anyway, I'm flat now and will open another trade if the opportunity shows on my chart. My balance is now $4505.00. I will be withdrawing about $1K early next month. No major harm done but if I kept on withdrawing, I'm afraid that I would be without capital to trade the markets....lol.

Long trade closed at 1.62868 with a -49.6pips loss = -$634.88

Position now flat.

Balance = $4505.95

All the best
Juf

8:30pm

After 16 hours, I have to close the Short position for a 33.7 pips loss and open a Long position @ 1.63364. Well, we can't win all the time. Losses will occur and hopefully when the market starts trending and going my way, the win will offset the losses.

Short closed for -33.7pips loss = -$454.95

Monday 22Sep2014
Bought 1.28Lots @ 1.63364
TP @ 1.69230 (586 pips from entry)
SL @ 1.61364 (200 pips from entry)

Account Balance : $5138.78

My Trade Explorer at Forex Factory is experiencing problems as it would not sync with my trades. I have sent a ticket to admin to fix the problem.

All the best
Juf

5:30am

Last Saturday I have set a Limit Sell order for GBP/USD @ 1.62878. When the market opened 30mins ago my Sell order was triggered but at a higher price of 1.63027. This is called slippage, which is in a way a good thing for my previous trade as it gave me +25.6pips in profit = $335.36.

As my Long trade from last week already closed, a short trade was automatically opened @ 1.63027 with 1.35Lots = $13.5/Pip.

Monday 22Sep2014
Sold 1.35Lots @ 1.63027
Initial TP @ 1.57227 (580 pips from entry)
Initial SL @ 1.65027 (200 pips from entry)

I trade what I see, so you should too.

All the best.
Juf

1:00pm

Talk about an Anti Climax for Cable by end of market close. Even with Scotland rejecting the idea of Independence from the UK, we would assume GBP will rise more but instead it drop back and taking out the 240pips rise from the previous day. Well, that is another way to say 'Buy the Rumour, Sell the News (or Facts)' if you are into fundamentals.

Anyhow, my Long position is still in play albeit with only 8pips of unrealized profit now. I have a Limit Sell order @ 1.62878 which certainly will be triggered by Monday open.

The most important thing is to trade what you see on the charts if you are a Technical trader and to follow and implement your plan, method, strategy or whatever you want to call it, religiously and without fail. No matter if the trade is in a loss or making profit, if you see an entry to go the opposite way, just close the ongoing trade and open another to the other direction. DISCIPLINE  and PATIENCE must go together when you trade Forex. Combined with a good strategy then you are on your way to becoming a successful Forex Trader. This is My Way of trading.

I will post again next week if my order is triggered.

All the best.
Juf

11:00am

Hi. Initial poll results of the Scotland Referendum shows 'NO' votes leading. This has been good news as far as my Long position is concerned. GBP is slowly rising up and at the time of writing this post I am about 200 pips in the green. But hey, this is Forex trading which means anything can still happen. The Polls are not even closed yet. So, lets hope the NO's outweighs the Yes's....

As for my Long trade opened on 17Sep ;

TP now moved to 1.69231 (646 pips from entry)
SL now moved to 1.62781 (1 pip above entry)

TP is based on 23.6% of weekly fib level which also coincides with a long term Resistance level from August 2009.

Well.....have patience and see what will happen by the end of this week's market close.

All the best
Juf

12:40pm

Talk about turn of events. I thought Cable would crash down yesterday but instead it went up. About 40 minutes ago, I closed the Short position from last 2 weeks and entered Long at 1.62771. Though I don't analyze the markets, I still believe the Scotland Independence Vote will be a major event to GBP long term direction.

The closed Short position nets in 253.8pips for a total of US$2842.56, which brings my trading account balance to US$5257.45 after fees and such.

Now for the long trade :

Bought @ 1.62771 with 1.31Lots or $13.10/Pip
Initial TP @ 1.67771 (500pips from entry)
Initial SL @ 1.60771 (200pips from entry)

Account Balance : US$5257.45

All the best
Juf

P.S. Check out my trades here

4:40pm

Hi. Believe or not, my short on Cable is still open. I was getting ready to go Long yesterday but as the set up was not defined on my charts, I just kept the short open. 

GU opened at 1.6267 on Monday and after more than 24hrs it has dropped 100 pips. TP was moved last week to 1.5831 based on Long term weekly support. If price cross the 50% weekly fib at 1.6003 to the downside, TP will be met eventually. 

The bears are still strong for now. Important events as the Scotland Independence Vote this week will likely dictate where GU will be heading. 

Yesterday I have also withdrawn $2035 from my trading account. My bank account have just been credited this afternoon. What can I say, I needed some dough to pay bills...etc...lol. 

Account balance : $2419

Unrealized Profit : $3900++ (as of writing this post)

P.S check out my trades here

All the best

Juf

2:15pm

A week ago on 2ndSeptember I shorted Cable @  1.65309 with 112k units or 1.12Lots.

Intial TP of 1.60309 is now moved to 1.6003.

Initial SL of 1.67309 is now moved to 1.64800 for a locked in +50 pips profit if PA goes against my trade. Remember, anything can happen.

As of writing this post now, I am more than 300pips ($3K++) of unrealized profits. Hope to reach my target soon.

Al the best.
Juf

P.S check out my trades here

8:15pm

After 16hrs in the Long trade, I'm cutting my losses and selling Short. I trade what I see on the chart. Now it says to sell.

Long trade closed for at 1.65309 for a -79.1 pips loss = $1384.25
I decided to withdraw $1127 and leave my account balance to $4500.00

Sold @ 1.65309 with 112k units = $11.20/pip
TP @ 1.60309
SL @ 1.67309

Account Balance $4500.00

All the best
Juf

4:15am

I have just bought 175K units ($17.5/Pip) of Cable at 1.6610 anticipating the GBP/USD pair to head North this coming weeks. The bulls are starting to take charge. If you check out my Trade Explorer you will see that I am using a high leverage to trade as all my trades were. I will someday explain on why my trading plan allows for this.

GBP/USD
Bought @ 1.6610
TP @ 1.7110
SL @ 1.6410

Account Balance $7010.58

Please take note that my TP & SL are just initial points. These might be changed subject to market conditions.

Al the best.
Juf