Saturday, July 18, 2009

Stop Trading, finding new opportunities in Forex

Another Stop Trading!! forex wrap up segment on this Saturday, looking what happened during the week and a peak at what's about to come next week. It's been a quite hectic week for me trading wise. Just as I thought the EUR was on it's way down against the USD it climbed back up again, leaving it pretty much where it was before, and not much profit was made on my part, just a few pips that's it.

I expected the EUR/USD to rise to where the blue circle is located, put in a sell, and for a moment it looked like it was indeed going down but instead gained value again. Looking back I should've taken profits earlier instead of holding out so long.
Next week however I'm going to try another strategy. It'll involve more risk and a cross currency pair. Probably the AUD/NZD, since commodities are being volatile again. I'll post here to show how it'll go...
Good luck and happy trading!!

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