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 Post subject: My first two trades
PostPosted: Mon Jan 25, 2010 4:22 am 
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Joined: Thu Jan 14, 2010 10:39 pm
Posts: 3
Sunday evening (Monday morning) Jan 24/25
I decided to see if I really had any idea at all of what Loz has been talking about. I experimented with opening an order and closing it our. After three tries I seemed to have it figured out.

At 10:41 I opened a sell order on the gbp/usd on the one minute chart at 1.61050 based on a doji candle at the top of a trend and a confirmation followed by a second confirming candle. The Imacd line also crossed the trigger line in a downward direction very close to the 00 line. I closed the order out manually just to see that I could. I only waited for 5 pips, (1.61045). Even though it is a demo account I was about as nervous as you could be within nothing at stake.
At 12:37 I found the same situation on the 5 minute chart of the eur/usd. There was a doji at thetop of a trend with a two-candle confirmation. The Imacd line crossed the trigger line in a downward direction. I sold the eur/usd at 1.41595 with a stop loss at the previous high 1.41713, a little high for my liking but it was my second trade and I wanted it to work. It was a good thing I put it that high because it damn near got hit. I put a take profit at 1.41568, 27 pips but closed it out manually for 10 pips.

By that time I had enough for the first night but am confident that I will do fine after I actually learn what I’m doing.
Thanks, Loz
Jack


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 Post subject: Re: My first two trades
PostPosted: Mon Jan 25, 2010 7:57 am 
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Joined: Wed Dec 23, 2009 12:25 am
Posts: 10
JackEgener wrote:
Sunday evening (Monday morning) Jan 24/25
I decided to see if I really had any idea at all of what Loz has been talking about. I experimented with opening an order and closing it our. After three tries I seemed to have it figured out.

At 10:41 I opened a sell order on the gbp/usd on the one minute chart at 1.61050 based on a doji candle .....
Jack



very nice Jack, thats is the way to tell trades.

anyone can clear understand what you are doing.

only you close your trade too early, for only 2.7 pips , carefull you have a 5 digit broker so 27 mean only 2.7 pips. and your SL was 118 = 11.8 pips, so thats was scalping :D

you nice one the way

cheers

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cheers

fx_red aka lionwilli


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