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my thoughts for next week

  • Post #1
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  • First Post: Jan 20, 2007 12:23pm Jan 20, 2007 12:23pm
  •  magicfx
  • | Joined Jul 2006 | Status: Senior Trader | 149 Posts
Ok here goes, and i would like help and input.

I started my trading life using fundamentals with little or no regard to anything else, when the trade messed up, then so be it, i closed it.
I have made plenty with a good success rate, i changed my strategy to incorporate some technicals, what this did was improve my entry/exit and stops. Sometimes i can still be without discipline but trade without worry, or emotion which is good and bad.

With that in mind we have seen the week pass with classic a,b,c, (or 1.2.3 trades) making a mint in seconds i have one trade still running from last week on the gbp long from 1.9700, ace! i have noticed the following and will trade it come sunday/monday. the daily chart is showing a near cross on the macd
and we are getting close to another breakout 150/200 pip upwards movement, with no news coming out then i predict that either monday,tuesday, wednesday or thursday will see this breakout

so here goes my next trade will be as follows (should markets go as indicated of course)

1.2920 buy
stop 1.2840 (option barrier)
close when i am happy and made a mint

i would like comments as my techy's are not bad, but then again not good!
or if anyone else is planning the same, then cooolamundo.

if you want to copy the trade, do so at your own risk, this is what i am happy doing, win loose or draw.
  • Post #2
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  • Jan 20, 2007 4:11pm Jan 20, 2007 4:11pm
  •  Justin
  • | Joined Sep 2006 | Status: Member | 158 Posts
Well, I think I share the same view as you are. These are my opened trades:

- Long EURUSD @1.2940, SL1.2760, TP1.3360
- Short USDCHF @1.2485, SL1.2685, TP1.1985
- Short USDJPY @121.34, SL123.34, TP115.34

What you think?

Cheers
 
 
  • Post #3
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  • Last Post: Jan 20, 2007 5:12pm Jan 20, 2007 5:12pm
  •  magicfx
  • | Joined Jul 2006 | Status: Senior Trader | 149 Posts
not sure about the usd/jpy trade have not ventured that far, your trades on the swissy and euro seem very good.

i thank you for your response, but could you clarify as a trader regardless of experience (which is obviously greater than mine) am i thinking and planning along the right lines.

remember your response and that from others will help beginners and advanced beginners (which is where i place myself) to see the bigger picture, and place good trades

regards, and thanks
 
 
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