Archive for September, 2007
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Friday, September 21st, 2007If you trade either demo or live with FXCM, you’ve probably noticed an extra digit in your prices, recently. That’s because we’ve just started quoting prices out to a further digit. So, now, instead of seeing a EUR/USD price of, say, 1.3587, you’ll see a price of 1.35874. I’m so used to seeing prices only […]
Afternoon Trade
Friday, September 21st, 2007
I entered a short-term position (probably until tomorrow) position in CHF/JPY earlier today. I had noticed that it was trading in a range between 98.56 and 98.20. I got short “relatively” close to the top of the range at 98.483 (middle black line), placed my protective stop at 99.350 ( a previous support level — […]
Food For Thought
Friday, September 21st, 2007I found an article by Tom Long on www.forextradingblog.com. He talks about using protective stops and his article identifies one of the major DON’Ts that I’ve been doing on the demo account and that I briefly touched upon in some of my previous posts. I copy-pasted what I believe to be the essence of the […]
Canadian Retail Sales - part 2
Friday, September 21st, 2007So the Canadian Retail Sales numbers came out, and I was completely wrong since they came out worse than expected (-0.8% vs. 0.0% expected). Of course, the USD shot up about 30pips and now I’m down about 25pips. That’ll teach me NOT to make my own assumptions about economic data!
Tags: dow, economic release, forex market, […]
Canadian Retail Sales - Part 1
Friday, September 21st, 2007Canadian retail sales will be released in a few moments. Right now my USDCAD short is at 1.0021. I’m hoping for this number to dip below 1.0000 once the data is released. Canadian wholesale sales were released yesterday morning and came out better than expected. Could this be an indicator of better than expected retail […]
DailyFX Forex Radio - Canadian May Break Parity, Greenback to See Little Relief
Thursday, September 20th, 2007· US Dollar sees little relief, downward momentum shows few signs of slowing
· Canadian Retail Sales could send the Loonie past parity
· Be sure to view the rest of the week’s event risk on the DailyFX Weekly Calendar
To discuss these or any other FX topics with the DailyFX analysts, check out the Forum
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Is it a Coincidence that the US dollar, Canadian Dollar, Oil and Gold are Breaking Significant Levels at the Same Time?
Thursday, September 20th, 2007It is a record breaking day in the financial markets and the action is not in US stocks, which have been bouncing between positive and negative territory all morning but in the currency and commodity markets. If you haven’t realized it, the US dollar has plummeted to a record low against the Euro and a […]
Never trade without a protective stop.
Thursday, September 20th, 2007After having identified your entry on a new trade, the next step should always be to identify the price level for your protective stop. The difference between the entry and the protective stop is your risk and represents what you are willing to lose on the trade. There is really only one guarantee in trading […]
Morning Trade
Thursday, September 20th, 2007This morning I decided to range trade the GBPUSD. At around 9AM - the range was about 2.0047 - 2.0113. I got long at 2.00754 (had a stop at 2.0020) and exited my position 2.00845 a 9.1 pip gain. Got back in again at 2.0975 and out at 2.01155 - an 18pip. I traded the […]
CHF/JPY results
Thursday, September 20th, 2007So i just got in the office and checked on my trades from yesterday. Especially, the CHFJPY trade that I “forced” myself not to touch once I had entered it in the system. So my limit price of 98.25 was reached and i made a 24 pip profit ($207). This really shows the benefits of […]
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