Thursday, July 27, 2006

Forex Trade- 7.27.06

3:10 pm EST- 1 Trade Lost

Today was an interesting day in the Euro. We had economic reports at both 8:30 and 10:00. As you all know I do not like trading around news candles so I wait at least 20 minutes until after the news before entering a trade. After the 8:30 reports I saw an Alba breakout at 9:10 am EST. I entered 3 lots long at 2762 with a stop at 2732 and a target at 2778. The Euro got within 5 pips of hitting my target but then reversed on me. Knowing that there was another news report coming out at 10:00 am EST I closed all 3 of my lots when the price looked like it was not going to hit my target. I ended up getting out at around 9:45 at 2754. After the 10:00 am news I did not see any other trades. There was some good movement today it just didn't go the way I hoped. I am definitely happy now that the market is starting to move. Hopefully tomorrow will be better. Cheers! ~Big Pippin

Results: -24 -9(spread)= -33 pips

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