Saturday, May 23, 2015

May 18 - May 22 Forex Trading Performance



Number of trades that lost: 5
Number of trades that gained: 7
Pips gained: 590.5
Pips lost: 180.9
Pips gained less lost: 409.6
Dollar gained: 0.3146+7.6490+3.9210+0.7582+18.8482+7.1577+11.6999=50.3486
Dollat lost: 1.6735+4.9634+3.7999+1.4660+4.5947=16.4975
Dollar gained less lost: 33.8511

Best Trade



Realization

  • Don't just jump in
  • Don't set too tight stop losses
  • Plan your trade and trade your plan; set and forget

Thursday, May 21, 2015

LONG on EUR/USD, AUS/USD, GBP/USD


Let's see...

Strategy:

All entry points were based from support/resistance areas.
Added the same number of units for every 50 pips gain.
Stop losses adjusted accordingly.

Monday, May 18, 2015

AUD/USD - 1D - Rising Wedge


Wait for breakout

Entry: 0.7967

Stop: 0.8169

Target: 0.7588

[UPDATE May 19, 2015]
Got burned. Entered without confirmation of a breakout.
Entered just because the price is below the support line.


PHILEQUITY IMPORTANT ADVISORY: BDO DIRECT DEPOSITS

Got a VERY IMPORTANT email from PhilEquity:

Please note that effective June 1, 2015 all over the counter transactions (cash or check deposits) to any Philequity Banco de Oro (BDO) account will require a reference number to be indicated on the deposit slip. 

All BDO tellers/branches will not process your cash or check deposit without a reference number.



If you are using a remittance agency to fund your account, we strongly encourage you to indicate the same reference number. This reference number will allow Philequity to match the deposit to your Philequity account and speed up the process of your investment. 

An Investment Application Form (IAF) is still required for all additional subscriptions.


Thank you,
Philequity Management, Inc.
www.philequity.net

Sunday, May 17, 2015

EUR/USD - 1D - Hanging Man


HANGING MAN
- color of the hanging man or hammer candlestick is not important.
- bearish signal that appears in an uptrend and warns of a potential trend reversal.
- confirmation of a trend reversal is should be sought.
- At the very least, the CANDLESTICK FOLLOWING the hanging man SHOULD CLOSE BELOW the real body of the hanging man. (Closing price of the next candlestick should be lower than 1.1410).
- confirmation may also take the form of another trend reversal pattern such as an engulfing pattern or a piercing pattern.

Entry: below 1.1410
Target Price 1: 1.1323
Stop Loss: 1.1480
Units: 600
Risk Reward: 5.2204:11.1638 (1:2)

____________________________________________________________________

[UPDATE] May 19, 2015
Market is still going down with a big bearish candlestick.
Added the same amount of units as when I entered the trade.
Set stop loss for both trades as the entry price of my first trade.
Trying out "pyramid" technique when adding to your position.


____________________________________________________________________

[UPDATE] May 19, 2015
TARGET PRICE HIT @ 1.1223!
Details of the trade:
Entry #1: 1.1425
Entry #2: 1.1348
Entry #3: 1.299
Target Price: 1.233
Stop Loss: 1.1480, 1.1425, 1.1348