Forex Trading – Day #275
October 1, 2008
The swing trade on the Dollar/Yen from 09/30/2008 ended fruitfully. The stop was adjusted to break-even after a gain of 47 pips and went even further into profit before retracing back upward stopping me out for 33-pip gain, which is a good start to October trading. Right now the Yen is choppy and moving sideways and I don’t foresee any potential trades short again on this currency the rest of the week unless a break-out occurs. The Euro and Pound both need to retrace to resistance levels before selling on the swing system and this is not happening so far this week but will continue to watch for possible selling opportunities the rest of the trading week.
I did obtain 2 entries for position short trades on the Euro and Pound on 10/01/2008. These quickly went into profit on the first trading day of this month and I am currently up 100 pips on each. An opportunity to adjust stop losses will occur at the start of the trading day on 10/02/2008 drastically reducing the risk involved on each of these trades.
Intra-day trading short on 10/01/2008 produced 20 pips on a short trade. Overall, a good start for October trading with already a 20.5% return.
