Thursday, September 30, 2010

How to make $1000 in few hours in Forex

Today I took another position in EUR/JPY
Here is my step by step approach:
First I look at 30 min, then go to 15, 5(not included) and 1min chart for entry. Another positive day $1,000
The reason I closed all of my positions is because my target of $1,000 was achieved. I didn't want to close only the half (that what most traders would do) because I was busy with my son. It was dinner time and bath time for my baby. My position was open for 5 hours anyway and I wanted just to close it and forget about it.
In my last picture there are some way you could manage a trade and hold until the end of the move down.

Monday, September 27, 2010

Another positive trade in EUR/JPY

Here is another positive trade in the same currency Eur/Jpy. I used to complete my trade with detailed description on charts I save and Excel but I'm busy mom now and don't really have time for that. But that what successful trader should do. I will improve that and describe my method of trading. 

For now I spot that trade on Friday evening. I opened the position  almost right after the opening market after weekend. It was Sunday for me (Hawaii time). My position wasn't open to long-few hours, but because I was busy with doing stuff with my baby I closed position. I was tired of keeping it open and constantly looking at the screen when my baby needed attention. $700 was not so bad!!

Thursday, September 23, 2010

I had some brake from trading. I was busy with my life, baby and early learning adventure.

But yesterday I spot that beautiful EUR/JPY trade that I couldn't resist. That was typical A trade I love to play with.
 Little risk-30 pips per lot
3 lots to short. Why 3? I traded maximum I could on my account because I had all evidences telling me GO FOR IT!!
Negative divergences in RSI and MACD, break in RSI support, reversing candlestick formation,round number etc...

Here are the charts

I love that look of a chart on a bigger time frame. And who said you can't spot a trade on a top of a reversal trend ;-) The trade will go on lower but because I was so tired yesterday and ready to go to bed I closed my short. I don't carry trade without monitoring them. $2000 in few hours, not bad!!