My Daily Trades

I am going to use this thread to keep track of my trades and try to give an explanation as to why I placed the trade. I am wanting some constructive criticism also to help me in my FOREX journey. I use the word journey because that is exactly what it is.

This morning I shorted the usd/jpy @ 89.60 using the 15 min chart. It looks to be trading in a small range. There was resistance at 89.90 then again at 89.70 and again at 89.65. There seems to be good support at 89.40. I am hoping that it breaks down thru this support. If the support holds and it goes back up to 90.00 I think it may be time to close the trade.

Looking at the 3 hour chart looks like there has been no direction in this pair. Longer term I see weakness in the dollar both technically and fundamentally.

I was short the usd/jpy at 89.60 and closed at 89.35. Decided to take a little money and run and see how the market opens.
From the way it looks I should have stayed in. A major problem I sometimes have is to cut my gains and I would probably let my losses run. Fear and a lack of discipline is why I believe this happens. Thats why I am here to learn.

After the nice drop in the past few minutes of the usd/jpy I saw some exhaustion. There was some support forming. I went long at 89.02 and got out at 89.14. Just a little scalp trade. This was when the news about housing came out. Also wanted to get out because news can really mess you up.

Right now I see the usd/jpy as a good longer term short. Action has been stagnent. Now that it is below the 89.00 level I feel comfortable with the trade. Short at 89.90. Crossing my fingers.

Woke up at about 2 am central time this morning. Looked at the 15 minute chart on the euro/usd and it met my criteria. I usually look at a few moving averages and sup/res and the rsi. I shorted at 1.2976 and then went back to bed. Got up and saw that the thing had fell out of bed and closed my trade at 1.2876. That woke me up better then a cup of coffee. Don't drink that stuff anyway. My Grandfather sad that coffee makes all your kids be born naked. He didn't lie.
I am still short the usd/jpy from 89.90. I want to make this a longer term trade and maybe make some smaller trades.

Hi. Do you ever trade G/J? That's what I mainly trade but g/u e/u u/j sometimes.
I just started my journal too. Stop by.

I am short the usd/jpy at 88.90. As of right now I am 85 pips down. I am not trying to panic because I am looking longer term for this trade. There is a lot of consolidation on the daily chart. The only thing that I am see that may bit me in the a$$ is that the RSI is in an upward direction while the pair is conslolidating. The range on this pair the last few days is tight. There has got to be a big move in the works in the near future. I use oanda as my broker and I am able to trade "box options". I may see what type of option I can place to help hedge is I see movent that I do not want to see, such as up.

Also I am long the eur/usd @ 1.2856. Since I placed the trade there has been a tight range on this pair looking at the 1 hr. chart with some upward bias. I am up a small amount and I think that if we can hold the support at 1.2800 then we could go higher but if it breaks then we will see a continuing down movement. I think that if we can see this pair break on through (to the other side, sorry I had to) the 1.3050 then we are off to the races.

Please comment and let me know if I am dead wrong on my analysis.

U/J short acutally looks ok. 90 is resistance. rsi peaking on 30 min. You could put SL at 90.25

I saw and pointed out what would cause this trade to go against me and what happened. The freakin pair rallies almost 300 pips. My earlier quote "The only thing that I am see that may bit me in the a$$ is that the RSI is in an upward direction while the pair is consolidating. The range on this pair the last few days is tight. There has got to be a big move in the works in the near future."
Please tell me that I am not the only one that does this. Thank goodness for the oanda options. Kinda took away from the hurt. Can someone explain this move. The fundamentals of all the markets are screwed up right now.

Sorry to hear..I'm not gonna attempt to explain the fundies right now. I bet alot of people took losses selling vs yen.
a reminder perhaps to plan for the worst before entering a trade and have a set SL that you can handle. (reminding myself as well)

If I am looking at a longer term trade I will purchase options to help hedge if it goes against me. That is what i did with the usd/jpy. Didn't take that big of a lose because of the optionslus a stop. I had a better reason as to why it would go against me then why I should short. Discipline!

I have been short the usd/jpy over the weekend from 92.15. Payed off some. Closed trade at 91.68. Going to see if there is another setup for a short. The pair has shown a little uptrend the past few days. Technically a questionable short but fundamentally I like it short. Some conslidation in the eur/usd. Looking for some more confirmation before I go long on a longer term trade. If we can see a breakout to the upside of this range then we could see it trade back up to 1.3300

5 min chart on eur/usd show a good point to short. short at 1.2966.

Closed short at 1.2978
loss of 12 pips.

I was short the eur/usd and then closed the position for a small lose. I decided to short it again and was taking a small beating but then it happened. Obama spoke. I don't totally agree with his views but helped my position. I was short at 1.2965 and closed at 1.2843. SWEET!
Right now I am short usd/jpy at 91.12. Hoping to make some cash when it breaks down under the 91.00 level.

Shorted the usd/jpy at 91.12. The chart was not looking pretty so I thought I could make some $$$ when it fell below 91.00. It toyed around that level FOR A LONG TIME. FINALLY it broke and I closed the position at 90.46. Looks as thought I could have stayed short for a little longer. Thats why I need to trade full time. Oneday maybe?. Thanks goodness for my htc touch, I can check my trades when I have a chance and trade through the oanda mobile platform.
Short the eur/usd at 1.2941. Liking the short on a one hour chart. Just hoping no stupid news comes out today.

Closed short at 1.2950. Looking at other charts it was starting to make higher lows and the rsi showed some bullish divergence. Long at 1.2950