AUDUSD and USDJPY – closed on 21 May 10

AUDUSD

My biggest Forex win so far! The decision not to set a profit target has paid off. I decided not to set a price to take profit and just adjust my stops along the way as the market trends.

I found that Parabolic SAR and day highs are good stop loss levels when market is trending strongly. They enable me to protect some of my profits and at the same time provide enough room for price to fluctuate. 

Sold 1 mini contract at 0.8953 on 14 May 10.
Bought 1 mini contract at 0.8342 on 21 May 10.

Profit = 611pips

USDJPY

The recent wins seem to dwarf this profit. Nonetheless, profits are always good. When I am winning, I tend to be greedy. I asked myself why I didn’t put up a bigger position. Of course, this is on hindsight and I must be careful not to be carried away. I must continue to trade small until I become better as a trader.

Sold 1 mini contract at 91.83 on 19 May 10.
Bought 1 mini contract at 90.34 on 21 May 10.

Profit = 149pips

You may also like:

1. USDJPY – closed on 14 Apr 10
2. AUDUSD (short) – closed on 29 Jan 10
3. AUDUSD (Long) – closed on 18 Mar 10
4. EURJPY – closed on 17 May 10
5. EURUSD – closed on 20 May 10
6. EURUSD (Short) – closed on 2 Mar 10
7. Zhuguang Holdings (long) – closed on 27 Jan 10
8. USDCHF (Long) – closed on 19 Feb 10

Tagged as: FOREX Trades

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