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Rain's Quote

My first interaction with forex was GBP/JPY, but more deep involved with forex, I learn that it's not about how you make a lot of profit, it's not about how fast you will gaining hundreds of pips. It's all about how you dealing with your psychological factors, how you manage your risk and stabilize your profit. It's true that GBP/JPY could give you hundreds of pips in an hour or less but it could take your all margin either.A fiew month ago, I decided reduce my trade in GBP/JPY and try to play in EUR/USD,It's hard time when I must learn new behaviour becouse trading in EUR/USD is not same thing dealing with GBP/JPY. EUR/USD has own rhythm. Based on that I decided to make this blog, I want to share with everyone about my journey to change my behaviour and I hope,you can feel the same thing, that it's not too late to learn something new and there is always new things to learn in forex market. Don't stop learn,once you stop it is same thing that you are dead. There is a lot thing I want to write but my limitation in english make it hard to me to wrtite, but I don't want give up. I believe, someday english would not be my constraints to write and share with you. My motto : Learn First, Wealth Will Follow.

Monday, September 14, 2009

Main Idea Still Long EUR/USD

07:38 PM - GMT+7

EUR/USD TF 4 Hour's Chart
 
 RSI steady above 50's area, three previous candle indicated bearish already loosing it power and possibility will goes up not for long. EMA 5 (blue) failed crossed down EMA 20 (green).
EUR/USD TF 1 Hour's Chart

Price action moved above EMA 66 (red), EMA, Parabolic SAR and candlestick shows me bullish pattern. I already enter long EUR/USD at 1.4549, SL at 1.4499 while target I let it open. I will concidering aim 1.4720 if price move steady above 1.4600. I will decide it latter, now I keep it with open target


UPDATE 08:38 PM -  GMT+7
Price jump to 1.4608 and now it moving at  1.4600 area, I decided adjusting my Stop Loss to 1.4559 and set my target at 1.4700.

I also set pending order entry sell limit at 1.4720. I will set stop loss and target for my entry if it executed on tuesday, if on tuesday it's not ececuted I might cancel it

Time to bed rest, I've got a cold and I have to take medicine and rest if I want to get well soon....


UPDATE 01- September 16, 2009 - 58 AM -  GMT+7

As I said before, I will cancel my pending order entry sell at 1.4720 if not executed on Tuesday, so I already cancelled it. I also adjusting mu Stop Loss for my original position , I set it at 1.4599 while I keep my target at  1.4700

at 7:51 PM  

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DISCLAIMER

Trading of financial instruments involves substantial risk, including complete possible loss of principal plus other losses and is not suitable for all members of the public. This blog discusses my experiences and my style of trading. This blog is for entertainment and educational purposes only. The trades discussed here are MY trades. You make your own trades and you and only you are responsible for your trades. Ideas and opinions discussed on this blog are not in any way recommendations to buy or sell securities or investment advise.

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