Out at 1.4150, 70 pip profit. Possible re-entry later.

Gordon Gekko's real-time Forex trading calls

No sure what's moving the Kiwi but who cares, as long as I am making money

Gordon Gekko's real-time Forex trading calls

+25 pips, moving stop to breakeven.

Gordon Gekko's real-time Forex trading calls

You are welcome. Bought EUR/NZD at 1.4080, 49 pip stop.

Gordon Gekko's real-time Forex trading calls

In general, support and resistance levels on higher time frames are more powerful than the ones on the shorter time frames. A daily support line is more meaningful than a 1 min support line. If you are using say the 15 min charts to trade, start ...

Gordon Gekko's real-time Forex trading calls

Take care Isingh. Personally I am going to buy a cup of coffee at the Starbucks and study those charts quietly, now that the market is closed.

Gordon Gekko's real-time Forex trading calls

Some other time perhaps, this obscure but interesting subject is beyond the limited scope of this thread, I suggest you open a new thread entirely dedicated to that matter.

Gordon Gekko's real-time Forex trading calls

Stop hunting is real of course, it's just that I don't believe it happens each and every time we initiate a new position.

Gordon Gekko's real-time Forex trading calls

Well, if you have reasons to believe that your FX broker is playing games with you, why do you keep using his services then, Isingh?

Gordon Gekko's real-time Forex trading calls

I really don't believe it is possible, otherwise one could make a fortune just by profiting from this "phenomena" using two different accounts with that same FX broker (arbitrage techniques). Yes I know, it's called a mental stop. But mental stops ...

Gordon Gekko's real-time Forex trading calls

Generally speaking and as far as day-trading is concerned, a 25 to 50 pip stop is more than appropriate in most cases, with 37 being the average. Using stops bigger than 55 pips (or allowing a loss to go that far) means there is probably a problem ...

Gordon Gekko's real-time Forex trading calls

That's a 62 pip drawdown to be exact, Isingh. Are you using 100 pip stops or more? You were lucky this time because the market returned near your buying point, allowing you to almost break-even.

Gordon Gekko's real-time Forex trading calls

Trading results for week ending April 10, 2015: Bought CAD/JPY at 96.15, 30 pip stop: +12 pips Short GBP/AUD at 1.9450 (limit order), 52 pip stop: Order cancelled Long AUD/USD at 0.7648, 42 pip stop: +50 pips. Long AUD/JPY at 91.90, 38 pip stop: +40 ...

Gordon Gekko's real-time Forex trading calls

Yes, but your entry must be extremely accurate or you will lose 90% of the time.

Gordon Gekko's real-time Forex trading calls

Out at 1.3796, +20 pips. Well, that's it for today, trading results for the week will follow shortly.

Gordon Gekko's real-time Forex trading calls

Moving stop to break-even.

Gordon Gekko's real-time Forex trading calls

Profit target for this trade is 20 pips, otherwise the position will be closed at exactly 3 PM (NY time).

Gordon Gekko's real-time Forex trading calls

Short EUR/AUD at 1.3816, 39 pip stop.

Gordon Gekko's real-time Forex trading calls

(Unfilled) pending order has been cancelled the same day at 11:59 PM, like all pending orders still unfilled before midnight (NY time).

Gordon Gekko's real-time Forex trading calls

Long AUD/CAD at 0.9690 (limit order), 26 pip stop.

Gordon Gekko's real-time Forex trading calls