My forex trading Journal with FBS

[Laurel]

I started working according to my plan I mentioned in earlier post.

EUR/USD dropped a bit and thats why I bought it at 1,4824, I considered it as a retracement.

50 pips TP is set for this trade.

 

[Laurel]

Its totally my bad luck that I forget to set TP for my last trade. EUR/USD went to 1.4877 and then it returned back. If I set the TP, I would get 50 pips from that trade.

Later on I closed the trade with 24 pips profit. It is totally a bad day. EUR/USD failed to make noticeable gain today. It may retrace next week due to FOMC.

 

[Laurel]

Laden is killed!

It was the breaking news of today, everywhere, in forex market too.

EURO weakened against USD at earlier sessions of the day and after the death news of Bin Laden comes out, it raised quickly from 1.4763 (intra day support) to 1.4902 and therefore created a new high of the year.

I didn't open any trade today for the fear of unusual volatility, so the first day of this trading week is a non trading day for me.

I will buy EUR/USD if it test 1.4760 support again.

 

[Laurel]

50 pips gain today!

My first intraday trade was opened today with fixed tp and sl.

It was the first trade of this week too. And it has closed with 50 pips profit!

So, total gain in this week is +50 pips. Two trades are running with floating loss (position/average trades), the loss has also reduced due to strong dollar. At anytime you can check my trading performance by clicking the myfxbook link from the first post.

The rally against USD is halted, is it taking rest or its end already?

My indicators are suggesting a short term reversal!

I have completed many trades already with FBS and total trading volume is increasing everyday, I think its not far when I will be able to unlock FBS $50 bonus which I got for my $200 deposit (25% withdrawable deposit bonus). I like this bonus because it has increased my capital by 25%.

 

[Laurel]

Commodities are falling due to strong dollar and same thing happen for AUD/USD too. It's now trading below 250 pips than its all time high. I just bought AUD/USD. I expect AUD/USD will rise again soon, it was just a market correction.

This trade is now in 10 pips profit. Lets see what happen tomorrow ...

 

[Laurel]

Its seems this week will go bad.

I should not trade against trend too.

The AU trade I opened yesterday is now in 100 pips floating loss, negative correlation has formed between AU and EU. EU is rising and AU is falling.

AU is falling because gold is falling. Why gold is falling? Because NFP is near. If NFP is near then why you opened trade? Now, I need to dig it out.

Anyway, waiting for tomorrow's NFP. I am sure it will bring a big change in market. Will it accelerate the loss more?

May or may not be.

 

[Laurel]

Laurel is back on track.

Check my myfxbook link. No extra risk, but all loses are covered.

FBS System | Myfxbook

No new trade until NFP, till then Good Bye!

 

[Laurel]

How your weekend is passing?

Mine is passing well, as you know I have covered recent loses and now in profit again. I withdraw profit once earlier and planning to withdraw a part of profit next week again.

I am now preparing trading plan for next week. I mainly performed position trades in last weeks and this week, most of my trades will be short term trades. They will be opened by pending orders and will be closed by stop loss or take profit. I will not move my stop loss but my take profit according to market movement.

My analysis says USD will continue becoming stronger for next week. Major reasons are traders gain trust on USA again after Laden is killed, many jobs added in USA economy last month (according to the record of NFP) and beside it, USA economy is improving with a good pace.

I think euro/usd will be the most sufferer next week, it has clearly broken the trendline and now falling quickly.

I think FBS will become the top choice of news traders. Thats because of their 2 pips spread at news time with very quick execution. I was feared of requotes when I was closing my trades after NFP since market was very volatile. By the way, the trades were closed without any problem, they allowed me to take the profit.

Wishing you a super duper new trading week!

 

[Laurel]

I measure the movement of AUD/USD by looking at gold price. AUD/USD is highly correlated with gold since Australia is the largest exporter of gold. Usually when gold starts rising, AUD/USD also rise.

Recently gold was pushed below $1500 for strong dollar and therefore AUD/USD dropped 400 pips from its recent all time high. Gold is recovering now and I think AUD/USD will also recover the loss.

I just placed my first trade of this week. I opened a buy order in AUD/USD at 1.0735, I set 100 pips stop loss for this trade. I want to get 100 pips or more with this trade.

 

[Laurel]

I have closed the AUD/USD long trade with 66 pips profit.

I have bought AUD/USD again in pullback at 1.0758. I closed the previous buy order at 1.0803.

The current trade is also in 26 pips profit. If I can manage 34 pips with this trade, then my target of 100 pips gain with AUD/USD long position will fill up.

Lets see how it goes.

Here is a bonus forex jokes for you:

Economist

One day an economist died and was accidentally sent to hell. As we all know, all dogs and economists go to heaven, but in this instance old saint Peter was off his game and our economist joined all the rapists, murderers and forex traders in the underworld.

After a few weeks in hell the economist realises that it’s not such a bad place after all, it’s just chronically mismanaged. So he implements a plan.
Within a few months the economy in hell is booming. He has the budget in surplus which enables the devil to spend on infrastructure, and investment funds start to flow in, increasing capital expenditures throughout the entire hellish economy.

After a year or two God looks down and notices that the standard of living in hell has increased to the point that most of his angels are booking their summer vacations there. The beaches are lovely, and face it, heaven is the last place you’re gonna find someone who can mix a decent cocktail.
He phones the devil to ask what’s going on. Satan explains that they have employed the services of an economist to fix their economy.

God is not happy. "You know that all economists go to heaven" he yelled, "send him back immediately or we’re going to sue you"

The devil just laughed and replied, "As if! Where are you gonna get your hands on a lawyer?"

 

[Laurel]

What a volatile market!

Rumors about Greece bailout package has spread around the market and that is moving the market now. Bloomberg reported that Greece will sell state assets next week and it worked as the fuel for the downward rally. So, what to do now? Sell euro!!!

I am not doing it right now (selling euro). I like volatility but I am waiting for a more clear signal. The market is ranging, euro/usd needs to break the support first.

The last trade in AUD/USD closed with 35 pips profit. So, total gain is 66+35=101 pips for this week. Not bad at all if I don't lose the gain at the end of the week.

So, I am in sideline. Sometimes it is interesting to watch the game instead of playing it!

FBS has a market analysis tool which combines of both fundamental and technical analysis. I am using it now. It keeps me updated about the major news and market prediction of the major banks and institutions. You can also use it, its free.

Link: http://www.fbs.com/analytics/news_markets

 

[Laurel]

I just entered in a risky trade.

Its a risky trade in this sense:

I entered in this trade without getting any strong signal from my indicators and analysis.

Entry: Long AUD/USD
Price: 1.0634

I am little biased by this market, I expect AUD/USD will rise again. Might be it will, might be it will not!

 

[Laurel]

Market has opened some times ago. There was no significant gap and I am not interested to open another trade with this market now.

Check my last post and I am in 60 pips floating loss for being greedy in Friday. I traded against the trend and now being punished by the market.

Anyway, there are several reasons why I think soon or later this trade will close with profit.

If you say, don't try to chase the market, I will say, I have a stop loss!

 

[Tulipmania]

Good luck with your future trading Laurel.

 

[Laurel]

I just made one trade today.

Entry: Short EUR/USD
Price: 1.4176
Exit: 1.4156
Profit: 20 pips

Good luck with your future trading Laurel.

Thanks for your inspiration.

 

[Laurel]

If I close my AUD/USD trade right now, my total gain in this week will be 12 pips and I will be in profit for consecutive 2 weeks.

I got 20 pips yesterday and the running trade is in 8 pips loss. I am more interested to hold this trade because dollar fails to keep it gains and AUD/USD currently trading above 14 day SMA line.

Its interesting to see no market movement due to FOMC. Today, I had expectation that after FOMC, dollar will be weaken but there is no notable movement till this moment. EUR/USD has fall 40 pips after FOMC but this movement is very low if I compare it with previous movement. Anyway, AUD/USD has succeed to hold it gain.

If AUD/USD doesn't fall again in the European session, then tomorrow we will see it above 1.07 or close to it. Market will say if I am wrong.

Good night and happy pipping!

 

[Laurel]

I told you yesterday if AUD/USD doesn't go below 1.0600 in European session, it will rise to 1.07 or close to it.

That happened today! AUD/USD rose to 1.0683 and then it fell down again. But I locked my profit at 1.0673, got 40 pips profit with this trade.

So, total number of pips in this week is 20+40=60

Not bad at all, total gain till now is 13% of initial deposit.

I just opened another trade some times ago. I need to mention here that I ordered the buy trade in AUD/USD at 1.0607 (bid price) but before the trade is executed, market price becomes 1.0609. Like previous, this trade is also opened without any requotes and with 1 pips loss (it should be 3 pips since FBS spread is 3 pips for AUD/USD).

I really like it. That trade is already in 10 pips profit. I would miss this entry if FBS didn't open the trade at the price I ordered it.

 

[Laurel]

I just opened another trade some times ago. I need to mention here that I ordered the buy trade in AUD/USD at 1.0607 (bid price) but before the trade is executed, market price becomes 1.0609. Like previous, this trade is also opened without any requotes and with 1 pips loss (it should be 3 pips since FBS spread is 3 pips for AUD/USD).

I really like it. That trade is already in 10 pips profit. I would miss this entry if FBS didn't open the trade at the price I ordered it.

Its great, this trade is closed with 48 pips profit.

So, total 108 pips profit in this week. Most probably, I will not trade today. The market is confusing and not at the level where I can order buy/sell.

 

[Laurel]

What a shame!

IMF chief is arrested for rape attempt and this pushed euro below 1.41 last week. Also, there is bailout problems of some European union countries.

Thats brought dollar again on the track. USA economy is improving quickly and after Laden is killed, Obama is in good form. It also boosted traders confidence on USD.

It is proved again, the safe heaven dollar will not lose its safe heaven appetite very soon. If EU is pushed below 1.40 next week, then be prepared for a dominating dollar in upcoming week!

Market will open tomorrow, I will sell euro if the downward rally continues.

 

[Laurel]

Only 1 trade in this week, just closed with 25 pips profit.

It was a bad entry but the exit is good, I am not glad because I bought in a falling market. USD starts losing strength again. There is high probability that it will loss strength in Friday also as well.