Open trading account 
I'm so mad at myslef because on both my shorts on EUR/USD and EUR/AUD I took my profits too earlier as the market was quite strong and moved more than +150 pips and +250 pips after I took my profits so this is a missed opportunity but I guess this comes as natural as after so many times the market moved 50-100 pips in my direction and short time after it returned back to BE, you don't want to go through the same pain anymore and next time when the market moves you take profits and you miss a big…
Daytrader21's Blog
EUR/AUD Short Trade
My first winner is the short EUR/AUD trade I've made yesterday and which has generated more than 120 pips profits. Now my account balance stands near 130k. With this trade I was aiming for a retest of previous week's low after the post-NFP rally we where unable to keep the momentum to the upside and this was reason enough to expect more downside and beside this I was expecting aussie to be strong this week and that's the reason why I choose EUR/AUD.
Right now I'm looking for further opportunitie…
Right now I'm looking for further opportunitie…
EUR/AUD Trade Setup
My recent trades have been working out well for me after in the initial stage I saw some drawdown especially on USD/JPY in the end I managed to bring my equity curve near $150k mark which is an impressive run if you take in consideration that at one point my account balance was in 70%DD.
Unfortunately I got stopped out too earlier on my shorts EUR/AUD as I was using a trailing stop and I moved it just too close to the market action.
Best Regards,
Daytrader21
Unfortunately I got stopped out too earlier on my shorts EUR/AUD as I was using a trailing stop and I moved it just too close to the market action.
Best Regards,
Daytrader21
EUR/AUD Consolidation mode
Over the last year EUR/AUD has been moving from large ranging zones to small ranging zones, moving back and forth between this consolidation phases. Right now the current established range is between 1.4400 resistance level and 1.4000 big round number and psychological number. Taking in consideration that we're approaching the summer time whee liquidity usually is low and thus the activity level is very low we should expect the market to move in tight range zones and this is…
FX Story Time
Is that time again when I'm rambling again about the FX markets and the sh*t going on in the land of the free market on a daily basis. There is no day passing by without to be amazed of the things going on with the FX Market. This time around I took again a long position on EUR/AUD after my first attempt failed to materialize around RBA rate decision, I spoke more about that trade here: RBA Cut Rates
Not to mention that the reaction on the RBA rate decision was absurd and I was expecting …
Not to mention that the reaction on the RBA rate decision was absurd and I was expecting …
RBA Cut Rates
As per my expectations RBA has indeed pulled the trigger and cut the main interest rates by 0.25% to 2.00%. I have been warning of the high probability of an cut in my recent post here: Preparing the Week Ahead However despite this move from RBA, the market reaction was not as per my expectations as I was looking for more downside.
I only may guess that the market was heavily short and the rate cut was already price in by the market, so we got a short squeeze. In this regard I can see th…
I only may guess that the market was heavily short and the rate cut was already price in by the market, so we got a short squeeze. In this regard I can see th…
FX - The Wild Wild West
So, a new month has started and like a good champ I'm , I start to make plans and tell myself I'm going to take only the setups that fits my criteria. So far so good until I see a trade on GBP/AUD (see Figure 1)and I see a nice short opportunity, everything was pointing for a down move and I decide to short it.
What do you thing happens the first moment after my order got triggered? Yes you're right the market starts moving against me . But it's not moving slow and steady but instead it's postin…
What do you thing happens the first moment after my order got triggered? Yes you're right the market starts moving against me . But it's not moving slow and steady but instead it's postin…
Short EUR/AUD. Trade Explanation
Currency Pair: EUR/AUD
Side: Short
Amount: 5Mill
Time Frame: 1h
Open Price: 1.435257
Close Price: 1.43236
PnL: +29pips
Open date: 18.08.2014 16:32:20
Close Date: 18.08.2014 13:46:52
Reasons Behind the trade: This trade was based just on technicals alone and more precisely on the momentum pressure. After we established the 1.43420 and had a little bounce that fact that we didn't had any follow through made me consider taking this short. The main trend was also to the downside so in order to have …
Side: Short
Amount: 5Mill
Time Frame: 1h
Open Price: 1.435257
Close Price: 1.43236
PnL: +29pips
Open date: 18.08.2014 16:32:20
Close Date: 18.08.2014 13:46:52
Reasons Behind the trade: This trade was based just on technicals alone and more precisely on the momentum pressure. After we established the 1.43420 and had a little bounce that fact that we didn't had any follow through made me consider taking this short. The main trend was also to the downside so in order to have …
Long EUR/AUD. Trade Explanation
Currency Pair: EUR/AUD
Side: Long
Amount: 5Mill
Time Frame: 1h
Open Price: 1.43679
Close Price: 1.432972
PnL: -38pips
Open date: 15.08.2014 02:55:25
Close Date: 14.08.2014 09:24:32
Reasons Behind the trade: This trade was based just on technicals alone and although I was trading against the main bearish trend I only expected a small bounce but as it can been seen trading against the trend can be costly. Another big mistake I've done is that I've moved my SL to soon and to close to market action …
Side: Long
Amount: 5Mill
Time Frame: 1h
Open Price: 1.43679
Close Price: 1.432972
PnL: -38pips
Open date: 15.08.2014 02:55:25
Close Date: 14.08.2014 09:24:32
Reasons Behind the trade: This trade was based just on technicals alone and although I was trading against the main bearish trend I only expected a small bounce but as it can been seen trading against the trend can be costly. Another big mistake I've done is that I've moved my SL to soon and to close to market action …
Some Updates
This is getting quite frustrating as my account balance is back around BE point. We're already halfway through the month and haven't made any profits and this is mainly because I've choose the wrong pair to trade. More than 70% of my trades have been on EUR/UAD as I was expecting a breakout from current range, which never happened as we continue trading in a frustrating tight rang
Every time I tried to buy/sell this pair it has gone in may favor only 30-40 pips and than it reversed and stopp…
Every time I tried to buy/sell this pair it has gone in may favor only 30-40 pips and than it reversed and stopp…