Thursday, June 5, 2008
Forex Trading EUR-JPY June 05 2008, at 00:42AM (New entry)
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I entered on short side of eur/jpy at 162.57 area, with time at 00:42AM (EDT).
I have to be careful as it can break on the way up. Also, it may go to 162.72 area, but my analysis picked what could be at least a short time peak. This is one may need some skillful management. Also, it should be done with small size (1/8 of intended size is what I would put in this trade).
Adddition at 10:31AM: I was right to be careful when I shorted. It went down, I took have profit, then it zoomed up. I run through a 15 pips stop, which when I put the half position that I took off for some pips made the stop at only 5 pips or so. So it is ok. I re-entered at 163.20 area, and that one took 30 pips from me on 1/8 the size, as I was sleeping when this happened.
At 10:06AM, I shorted it with EUR/JPY at 164.85, as I posted it on the forum in real time.
I have to be careful as it can break on the way up. Also, it may go to 162.72 area, but my analysis picked what could be at least a short time peak. This is one may need some skillful management. Also, it should be done with small size (1/8 of intended size is what I would put in this trade).
Adddition at 10:31AM: I was right to be careful when I shorted. It went down, I took have profit, then it zoomed up. I run through a 15 pips stop, which when I put the half position that I took off for some pips made the stop at only 5 pips or so. So it is ok. I re-entered at 163.20 area, and that one took 30 pips from me on 1/8 the size, as I was sleeping when this happened.
At 10:06AM, I shorted it with EUR/JPY at 164.85, as I posted it on the forum in real time.
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