Weak pound, at least it will boost our manufacturing and exports...

[suityou01]

I wouldn't put a TP at a big round number like 1.5, but instead move the stop to just below this if it gets close, incase it rockets through such a psychological resistance level.

That's good advice, will rep if I can.



Up 30 pips so far

(And in the face of the fundamentals )

[suityou01]

Looks like there's some bullish market news in the form of US Advanced retail sales coming out at 12:30.

For that reason, I'm out.

Taking my profit with me

[DimPrawn]

Looks like there's some bullish market news in the form of US Advanced retail sales coming out at 12:30.

For that reason, I'm out.

Taking my profit with me

If you want to make money at forex it is better to let your winning positions run by carefully moving the stop loss to capture profit and cut your losing positions quickly. For all you know that trade could run and run and you will be missing all that profit potential.

[suityou01]

If you want to make money at forex it is better to let your winning positions run by carefully moving the stop loss to capture profit and cut your losing positions quickly. For all you know that trade could run and run and you will be missing all that profit potential.

I thought about doing that, but the US figures gave me the eebie jeebies.

The USD is bullish, the DJ at pre 2008 highs and I'm not sure a reversal is that imminent.

I decided to sit out for a bit, with my profits, and see if the psychological barrier of 15000 is breached. I may go back in if it is.

I'm also eyeing AUD/USD for a retracement on recent gains.

The market is quite jittery at the moment and any bit of news seems to make the market jump 50 pips.

My USD/JPY trade got me burned overnight (been running since last Friday) and all because some bright sparks misinterpreted a news article about the BOJ.

[DimPrawn]

I got burned on a GBPJPY trade today, you can't even rely on a falling pound sometimes.

[suityou01]

I got burned on a GBPJPY trade today, you can't even rely on a falling pound sometimes.

In hindhsight GBP/NZD was the trade but it looks like it's running out of legs. I'm looking into trading it back down.

[suityou01]

I thought about doing that, but the US figures gave me the eebie jeebies.

The USD is bullish, the DJ at pre 2008 highs and I'm not sure a reversal is that imminent.

I decided to sit out for a bit, with my profits, and see if the psychological barrier of 15000 is breached. I may go back in if it is.

I'm also eyeing AUD/USD for a retracement on recent gains.

The market is quite jittery at the moment and any bit of news seems to make the market jump 50 pips.

My USD/JPY trade got me burned overnight (been running since last Friday) and all because some bright sparks misinterpreted a news article about the BOJ.

And I was right. Figures announce and 40 pips swing south.

I fear for sterling

[DimPrawn]

And I was right. Figures announce and 40 pips swing south.

I fear for sterling

You should have opened a counter trade and pocketed those 40 pips.