Archive for the ‘Forex Trading’ category

« Older Entries
Newer Entries »

I waited, but missed this…

June 1st, 2010

So irritating… I was waiting for the USDCHF pair to reverse… but it happened while I was working… so I missed the trade… On days like this, I really wish I am trading full time… Could have netted a cool 200 pips profit…

USDCHF 1 Jun (Weekly Chart)

USDCHF 1 Jun (Weekly Chart)

USDCHF 1 Jun (Hourly Chart)

USDCHF 1 Jun (Hourly Chart)

Reason for Trade:

  1. Resistance at a down sloping trendline (refer to Weekly Chart)
  2. Fibo 23.6
  3. Perfect Pin Bar (refer to Hourly Chart)

No comments »

Posted in Forex Trading, Reading Price Action

Tags:

MT4 Trailing Stop

June 1st, 2010

Hahaa…. I never knew this… Trailing stop on MT4 is stored on the client terminal and not on the server… Therefore, the terminal needs to be open in order for the trailing stop to be effective…. How inconvenient….

No comments »

Posted in Forex Trading

Acronyms used in the James16 Forex Factory Thread

May 31st, 2010

I’ve been reading through James16’s thread on Forex Factory… Like any normal human being, I’m not able to read through the entire thread… which as of now (31 May) is already 4343 pages long… So, I read the first 100 (?) pages and then went to read the more recent pages… A lot of newcomers will probably be confused by all the acronyms used by members of that thread… Thus I’ve decided to compile a list here…

  1. DBHLC = Double High Lower Close
  2. DBLHC = Double Low Higher Close
  3. BUOVB = Bullish Outside Vertical Bar
  4. BEOVB = Bearish Outside Vertical Bar
  5. BRN = Big Round Numbers
  6. PPZ = Price Pivot Zone (an area where support becomes resistance and vice versa)
  7. IB4 = Inside Bar + Narrow Range 4 (http://www.trading-naked.com/insidebarNR4x.htm)
  8. PB = Pin Bar (http://www.scribd.com/doc/192645/Pin-Bars-Introduction)

No comments »

Posted in Forex Trading, Reading Price Action

Tags: