Tuesday, August 16, 2005


Getting home from work around 5 pm and I turn on the computer and open up the charts to see what I will do this evening. I am trading the EUR$ since I feel comfortable about how it moves.

This evening the price is at 80 and is overbought and is above the 21ema. I set up EUR$ for a Sell and then waited. I set limit for 5 pips. The market did go down and I hit the 5 pips within about 15 minutes tonight.

At this point I was not seeing anything I wanted to trade with the EUR$ so I decided to wait till tomorrow and pick up more pips then.

Today +5 pips. Week +15 pips.


I decided to get back to writing about my time trading the Forex. I have not stopped. In fact I now have 2 separate accounts that allow me to try to hedge the market.

Today the price was up on the EUR$ with the stochastics about 20 which showed the currency was oversold. The price was also away from the 21ema so I set up the currency for a Buy. I went ahead and set my limit for 5 pips and waited. The price did go up as I figured it would and picked up my 5 pips. The stochastics was now at the 80 level and was now overbought with the price at the 21ema. This time I placed a Sell order and set my limit for 5 pips and waited. The price did go down away from the 21ema and I was able to pick up another 5 pips. At that point I turn the computer off and go do something else. This process took 1 hour.

Pips for the day +10 pips.