Ph1lly
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Hi Everyone,
My 1st week in Swing Trading Forex was exciting to say the least.
Watching the price of Cable swing from a good profit to a not so good profit and then a losing position, to end up exactly where the analysis predicted with a VERY good profit brought about a rollercoaster of emotions that I managed to keep in check.
Anyone more used to scalping could be tempted to exit the trades when they see 40 – 50 pips profit on their platform and lose out on some big profits, Its only my 1st week but I have already learnt why it is called Swing Trading and up over 650 pips.
Week number 2 started and being cautious.
Cheers
Phil
My 1st week in Swing Trading Forex was exciting to say the least.
Watching the price of Cable swing from a good profit to a not so good profit and then a losing position, to end up exactly where the analysis predicted with a VERY good profit brought about a rollercoaster of emotions that I managed to keep in check.
Anyone more used to scalping could be tempted to exit the trades when they see 40 – 50 pips profit on their platform and lose out on some big profits, Its only my 1st week but I have already learnt why it is called Swing Trading and up over 650 pips.
Week number 2 started and being cautious.
Cheers
Phil
the reason alot people stop at 40-50 pips and that the trade can very well turn back on them; happened me twice this week went from 300$ profit 2 times to breakeven as the trade turned against me after abit.Now I set up stop loss while still in profit so I dont end up not making a $ on a great trade. I adjust the stop loss as the profit get higher
Ph1lly
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Hi Yoshie,
Thanks for your response.
On the two trades that retraced back from $300 profit to breakeven, after you closed the trade have you looked to see if you had stayed in this trade if it would have gone back to $300 pofit or even further?
Cheers
Phil
Thanks for your response.
On the two trades that retraced back from $300 profit to breakeven, after you closed the trade have you looked to see if you had stayed in this trade if it would have gone back to $300 pofit or even further?
Cheers
Phil
the trade had a 20-30%(300-400$) profit on the margin used for awhile, the thing is I let it dip to 0% as I had put my S/L at break even point it happened on 2 trade at basicall the same time; the trade didnt go higher than 30-32% profit but I didnt close and ended up with nothing.
Ph1lly
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Hi Rossini,
Sorry you are correct, set Limit Order for that, didnt reach got in @ 0.8505
Cheers
Phil
neil
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Ph1lly
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Hi
Currently in a Short on GBP/JPY which doesnt seem to know where its going, is there such a thing as FX Sat Nav to help it on its way, must have been 3 or 4 false break outs this afternoon, will stick with and it'll either give me good profits or a slap on the face.
Cheers
Phil
Currently in a Short on GBP/JPY which doesnt seem to know where its going, is there such a thing as FX Sat Nav to help it on its way, must have been 3 or 4 false break outs this afternoon, will stick with and it'll either give me good profits or a slap on the face.
Cheers
Phil
Ph1lly
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Hi
GBP/JPY going well currently +80 pips
I did say I was Learning to Love the pips, not loving them so much today stayed up till 2 am waiting for price to reach a high on GBP/USD before entering a Short, missed my entry by a couple of pips went to bed to get up and see it went were anticipated by 150 pips its difficult to not keep thinking I should have had that.
Cheers
Phil
GBP/JPY going well currently +80 pips
I did say I was Learning to Love the pips, not loving them so much today stayed up till 2 am waiting for price to reach a high on GBP/USD before entering a Short, missed my entry by a couple of pips went to bed to get up and see it went were anticipated by 150 pips its difficult to not keep thinking I should have had that.
Cheers
Phil
meanreversion
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What basic rules for entry and exit are you using for your swing trading Phil ?
TWOHATS
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Hi Phil,
Really looking forward to learning Rav's methods as im new to this swing trading.Due to work commitments im unable to sit at my computer during the day so swing trading enables me to trade and work.
shorted cable today closed 60% +102 held the remaining 40% for another 44pips so another great trade of 146pips bringing my total for the last fortnight to well over the 500 pip mark.:clap:
heres to many more winners!
Andy s
arty:
Really looking forward to learning Rav's methods as im new to this swing trading.Due to work commitments im unable to sit at my computer during the day so swing trading enables me to trade and work.
shorted cable today closed 60% +102 held the remaining 40% for another 44pips so another great trade of 146pips bringing my total for the last fortnight to well over the 500 pip mark.:clap:
heres to many more winners!
Andy s
arty:
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Ph1lly
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