Open trading account 
Most of the trades today were on the short side - EURUSD and GBPUSD. I was long on USDJPY. Couple of them was right initially, but later stop loss was triggered. But my reading of the market direction was correct and I am happy. May be the stop loss was triggered, but it saved me from bigger losses. It taught me what must be my expectations from market and how I should be waiting to grab that opportunity into a success. I am confident that I will be improving my trading skills and improve the re…
WrecklessTrader's Blog
EURUSD short2 (04 Jan 2018)
I took another short trade in EURUSD despite taking a hit in the first one. I felt that USD will again move toward 1.20 or somehwere closer. I looked at the chart and found that there is a big possibility of it moving down 50-80 points down.
Eventhough I follow technical analysis, my personal views are more important to me.
I went short 1Mill @ 1.20747 with a Take Profit target at 1.2015. Stop Loss is kept at 1.2100. I might take profit this time if it gives me more than 25 pips, as I have felt …
Eventhough I follow technical analysis, my personal views are more important to me.
I went short 1Mill @ 1.20747 with a Take Profit target at 1.2015. Stop Loss is kept at 1.2100. I might take profit this time if it gives me more than 25 pips, as I have felt …
EURUSD Short position (03 Jan 2018)
Again this trade based on Technical cum Personal view.
I went short 500,000 EURUSD at 1.20304 with a Stop Loss (SL) 1.2080 and Take Profit (TP) at 1.1975. I have this strange feeling that it could break 1.2000 levels, even if it is for a brief period and the fall could be very forceful before a support comes. It may happen either in a day or two, but sure to happen. That is what I read from the charts.
I went short 500,000 EURUSD at 1.20304 with a Stop Loss (SL) 1.2080 and Take Profit (TP) at 1.1975. I have this strange feeling that it could break 1.2000 levels, even if it is for a brief period and the fall could be very forceful before a support comes. It may happen either in a day or two, but sure to happen. That is what I read from the charts.
USDJPY Long position (03 Jan 2018)
Wishing every body a Happy and Prosperous New Year 2018
This is my first trade of the year 2018. This trade has been taken with a couple of days view in mind. It has an element of Technical as well as Personal view attached to it. I did rather say bit more of Personal view.
I went long 500,000 USDJPY at 112.287 with a Stop Loss (SL) at 112.00 and a Take Profit (TP) at 112.75. I studied the daily charts, found its time for the pair to move towards 112.75 or even higher.
This is my first trade of the year 2018. This trade has been taken with a couple of days view in mind. It has an element of Technical as well as Personal view attached to it. I did rather say bit more of Personal view.
I went long 500,000 USDJPY at 112.287 with a Stop Loss (SL) at 112.00 and a Take Profit (TP) at 112.75. I studied the daily charts, found its time for the pair to move towards 112.75 or even higher.
EUR/USD Short Trade 21Dec2017
I took a short trade on EURUSD at 1.1868 levels with a SL at 1.1895 and TP at 1.1820. After going above 1.1900 for a brief period, the prices were in a range for a long time and then fell down closer to 1.1850 today and a subsequent rise back towards 1.1880. I feel it will not break this resistance and the only way is down. If the down trend breaches 1.1848, it could travel a lot down wards. I feel it is better to take profit at 1.1820 and initiate a new trade if trends confirm to take another t…
EUR/USD (18 Dec 2017)
This trade was entered at 1.1800 levels. My reading of the chart indicates the market is in for an upmove and will continue for more time. It has not completed its upward journey. Stop loss is placed at 1.1780 and take profit at 1.1850. this trade is to based on my analysis of price actions and based on 4 hour chart. I have used pivot points, simple moving average while deciding to enter this Long trade.
This is my first trade based on price action strategy.
This is my first trade based on price action strategy.
Todays Trades
Todays trades gave mixed to bad results. GBP/USD and EUR/USD both made one trade profit, and the second ended in disaster.
I found that sometime while entering the SL and TP i get confused with the software. Its only after the order was placed I realised that SL was kept too close for the GBP/USD deal. As per my trading strategy, I decided to stay away from initiating further orders. A break from trading is always better than chasing trades.
I will be back tomorrow with a fresh mind and attitude…
I found that sometime while entering the SL and TP i get confused with the software. Its only after the order was placed I realised that SL was kept too close for the GBP/USD deal. As per my trading strategy, I decided to stay away from initiating further orders. A break from trading is always better than chasing trades.
I will be back tomorrow with a fresh mind and attitude…