Open trading account 
Currently the only trade I have is GBP/JPY as I used my whole margin on this trade but I tried the same trade in the beginning of the week and it hasn't worked out well fro me as I was forced to take a small loss. Right now the trade looks promising but I'm not quite sure if there is enough time to reach my target of 185.00 big psychological number. the way things are looking at this stage I'm not sure if I'm having any chances to enter in top rank so I may be focusing in just bringing back my a…
Daytrader21's Blog
Risk Aversion Full Scale
As per my expectations we had quite an interesting FX opening you can read more about what I had to say over the weekends here: Greece Saga Final Act
This is what an ideal risk aversion scenario looks like when the safe haven currencies are in high demand and currencies like JPY, CHF and the US Dollar are the ultimate beneficiary on this environment. The magnitude of the gaps we saw especially with the yen pairs where something that we never saw at least not in the recent history. But not only t…
This is what an ideal risk aversion scenario looks like when the safe haven currencies are in high demand and currencies like JPY, CHF and the US Dollar are the ultimate beneficiary on this environment. The magnitude of the gaps we saw especially with the yen pairs where something that we never saw at least not in the recent history. But not only t…
GBP/JPY Short Trade EXplained
"The market can stay irrational longer than you can stay solvent" and this aphorism is more true than ever if you look at GBP/JPY. Since mid April this market has gone in straight line for 10 consecutive weeks posting the longest weekly green run since 1995. We didn't had 10 green weekly candle since 1995 when the yen hit a peak of under 80 yen per dollar. Taking in consideration this long stretch and the fact that this pair looked extreme overbought I was expecting to see some retracement a…
Scalping with GBP/JPY
Yesterday I was trying to pick up a top in GBP/JPY but in the end I ended up taking few scalp trade in both direction of the market. Overall my performance with this trades was negative as my losses where bigger than my winners. Unfortunately I already have a 32% DD so I need to make sure the next trade is a winner otherwise it will be quite hard to recoup my balance.
Figure 1. GBP/JPY 15 Minute Chart
Edit: LOL.......I don't know to laugh or to cry but just after I got stopped out, now 15 minute…
Quick Review GBP/JPY Trade
In today's blog post I would like to give a quick review of one of my latest trades which was short GBP/JPY(see Figure 1). The whole premise behind this trade was a broken support which was pointing to further downside movement. Not to mention that once cable has broke the key support level of 1.5000 which is a very big round number, would send a strong signal across the board that GBP is very weak. This was a very quick trade as weekend was approaching I was not having enough margin left to hol…
Bad day
Yesterday wasn't such a great day as I was caught on the wrong foot trying to short GBP/JPY. Even though the other day I was short this pair but took profits too earlier and left much of the potential profits on the table this has made me chase another short trade. Losses are part of the game but taking a loss because of undisciplined behavior is unacceptable.
And on top of that I was also short Gold yesterday but my timing was wrong and I was stopped out at the exact higher price of the day, wh…
And on top of that I was also short Gold yesterday but my timing was wrong and I was stopped out at the exact higher price of the day, wh…
Trades Recap
Since it's weekend I thought I have some more time to speak about the trades taken in the first week of the year. During this time period I have been focusing more my attention on the yen pairs as based on my analysis they should have entered in some type of correction mode, you can find more about my analysis on the YEN here: USD/JPY Elliott Wave Cycle Completed
Apart from that I took two small intraday position on USD/CAD and USD/SGD. The reason why this where not swing positions was because t…
Apart from that I took two small intraday position on USD/CAD and USD/SGD. The reason why this where not swing positions was because t…
First Trade, First Loss:)
This is really not the best way to start in the Trader Contest but unfortunately I got stopped out on my short GBP/JPY trade (see Figure 1). It seems that I let my bias to interfere in my trading decision. I just had this bias the GBP/JPY should break lower for more than few hundreds of pips and the idea of having a possible big profit had stopped me to see the price action and the fact that there may be the case that I'm wrong.
Now my job is even harder as I'll have to recover from this big DD,…
Now my job is even harder as I'll have to recover from this big DD,…
Trade Explanation
Here I'm going to give my explanation of my latest trades:
Currency Pair: EUR/JPY
Side: Long
Amount: 5Mill
Time Frame: 4h
Open Price: 136.66
Close Price: 136.983
PnL: +32pips
Open date: 06.08.2014 13:41:06
Close Date: 07.08.2014 05:16:52
Reasons Behind the trade: This trade was based pure on technicals, simply support and resistance levels on an intraday levels. But also on correlations as well as EUR/USD price action looks very oversold so I was expecting a short squeeze and this will drag EUR/…
Currency Pair: EUR/JPY
Side: Long
Amount: 5Mill
Time Frame: 4h
Open Price: 136.66
Close Price: 136.983
PnL: +32pips
Open date: 06.08.2014 13:41:06
Close Date: 07.08.2014 05:16:52
Reasons Behind the trade: This trade was based pure on technicals, simply support and resistance levels on an intraday levels. But also on correlations as well as EUR/USD price action looks very oversold so I was expecting a short squeeze and this will drag EUR/…