Posted by: joetradingplace | March 6, 2013

Weekly Update

It has been a very slow for us this week, we took 2 trades this week…long eurnzd which was stopped out for the half the initial risk (-55 pips * 3 positions) (-0.5 percent). We also took a short on euraud from 1.2760, 1st target has been reached at 70 pips (0.33 percent), stop loss on last two positions has been moved to breakeven. Our Audchf long from last week was stopped out early this week at breakeven after reaching our first target, the pair continued to move in the direction that we expected.

Interesting to see how price reacted to the yearly open on this pair…remember our posts last week, always keep an eye on the yearly open, yearly high/low…add them to your tools of trading and you will see a huge change in your perfomance. Why do they work most of the times, because they are price points that are watched by almost every trader….especially the big money movers. Retail traders dont move the market…so you want to jump on the same wagon with the big money movers…watch what they are watching and react accordingly, you will do fine. Thats what we have learnt a long time ago and we have been doing ok.

Weeks Total = -95 pips (-0.17 percent)

Audchf

audchf results

Eurnzd

eurnzd 06-03

Euraud

euraud 06-03

 

 

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