Project Summary ( click here to update online ):
Duration: 07 Months , 02 Weeks
Number of Trades Total | This Month: 228 | 11
Winning Trades Total | This Month: 183 | 11
Pip Gain/Loss Total | This Month: +6175.9 | +455.9
08 Feb 2013 Daily review by myfxpedia.com:
Ok, It seemed that Draghi did what we have expected (yesterday update) as being prudent. Surely, he isn’t a fool after all and knows exactly what is needed for the health of the European economy to be well on the path of recovery and so his tone was more cautious, a turnaround from last month speech, for sure he must have make life like hell for many traders going Short on the Euro with tight stops. As we have say it many times before, in this sort of business where and when we have identify a terminal zone and technical is not in sync with fundamental then soon the fundamental will prevail. The problem for us as traders is to be ready to weather and survive the storm; at time markets behave much more irrational than your pocket can bear and before it’s coming to its sense and so we must stand ready to take on that storm and strategise our entries, in this case we entered with small lots sizes and widen our stops and stand ready for a drawdown of 10%.
Over the last two weeks that was exactly happened to us and this is the 2nd times its has happened over the last 9 months. The last time it happened was 2 months ago and we came out with a record pips collected for the month and now we slowly steer our way out of this storm once again and collecting pips as we doing so.
At times our strategy/system might not suit everyone but rest as sure, there isn’t any holy grail strategy/system out there. It all comes down to Risk Management and knowing your Risk and sticking to your trading plan and ultimately, as a trader you must adopt to the ability of trading without Greed nor Fear.
Impact News today:
12:30 am (NY) CNY – CPI
08:30 am (NY) CAD – Employment Change; Trade Balance; Unemployment Rate
08:30 am (NY) USD – Trade Balance.
Technical Analysis:
We just add on another position on USDCAD. This pair we entered with a small lot size 4 days ago and after yesterday candles formation H4 and a retested of uptrend line holds we decided to entered another lot at the same prices level of our 1st entry with same stop but different target. Chart below.
USDCAD – H4
https://myfxpedia.com/forum/myfxpedi...8-Feb-2013.jpg
The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
Duration: 07 Months , 02 Weeks
Number of Trades Total | This Month: 228 | 11
Winning Trades Total | This Month: 183 | 11
Pip Gain/Loss Total | This Month: +6175.9 | +455.9
08 Feb 2013 Daily review by myfxpedia.com:
Ok, It seemed that Draghi did what we have expected (yesterday update) as being prudent. Surely, he isn’t a fool after all and knows exactly what is needed for the health of the European economy to be well on the path of recovery and so his tone was more cautious, a turnaround from last month speech, for sure he must have make life like hell for many traders going Short on the Euro with tight stops. As we have say it many times before, in this sort of business where and when we have identify a terminal zone and technical is not in sync with fundamental then soon the fundamental will prevail. The problem for us as traders is to be ready to weather and survive the storm; at time markets behave much more irrational than your pocket can bear and before it’s coming to its sense and so we must stand ready to take on that storm and strategise our entries, in this case we entered with small lots sizes and widen our stops and stand ready for a drawdown of 10%.
Over the last two weeks that was exactly happened to us and this is the 2nd times its has happened over the last 9 months. The last time it happened was 2 months ago and we came out with a record pips collected for the month and now we slowly steer our way out of this storm once again and collecting pips as we doing so.
At times our strategy/system might not suit everyone but rest as sure, there isn’t any holy grail strategy/system out there. It all comes down to Risk Management and knowing your Risk and sticking to your trading plan and ultimately, as a trader you must adopt to the ability of trading without Greed nor Fear.
Impact News today:
12:30 am (NY) CNY – CPI
08:30 am (NY) CAD – Employment Change; Trade Balance; Unemployment Rate
08:30 am (NY) USD – Trade Balance.
Technical Analysis:
We just add on another position on USDCAD. This pair we entered with a small lot size 4 days ago and after yesterday candles formation H4 and a retested of uptrend line holds we decided to entered another lot at the same prices level of our 1st entry with same stop but different target. Chart below.
USDCAD – H4
https://myfxpedia.com/forum/myfxpedi...8-Feb-2013.jpg
The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on author’s analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions. Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite.
myfxpedia : Daily Signals and Strategies