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04 April 2018 - EURUSD

WrecklessTrader Posted 4 Apr.  in #Eurusd #Tradercontest #Trader'sblog #Eurusd Long #Eurusd Short
Todays trades were basically focused on the directions of the market. I had been long since yesterday. But once I found that it will not have the strength to move beyond 1.2315 I decided to close my deal at 1.2301.
Later I felt the market may oscillate 10-15 pips downwards. I initiated a short at 1.2302. It went all way down to 1.2288 but not any further and started to move up. So I closed it at 1.2292 and decided to stay clean till further clarity is available for any trades.
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My Trades for 05 Jan 2018

WrecklessTrader Posted 5 Jan.  in #Trader's blog #Traders Contest
Most of the trades today were on the short side - EURUSD and GBPUSD. I was long on USDJPY. Couple of them was right initially, but later stop loss was triggered. But my reading of the market direction was correct and I am happy. May be the stop loss was triggered, but it saved me from bigger losses. It taught me what must be my expectations from market and how I should be waiting to grab that opportunity into a success. I am confident that I will be improving my trading skills and improve the re…
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EURUSD short2 (04 Jan 2018)

WrecklessTrader Posted 4 Jan.  in #Trader's blog #Eurusd #Cci #Traders Contest #Eurusd Short
I took another short trade in EURUSD despite taking a hit in the first one. I felt that USD will again move toward 1.20 or somehwere closer. I looked at the chart and found that there is a big possibility of it moving down 50-80 points down.
Eventhough I follow technical analysis, my personal views are more important to me.
I went short 1Mill @ 1.20747 with a Take Profit target at 1.2015. Stop Loss is kept at 1.2100. I might take profit this time if it gives me more than 25 pips, as I have felt …
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EURUSD Short position (03 Jan 2018)

WrecklessTrader Posted 3 Jan.  in #Trader's blog #Eurusd #Traders Contest #Eurusd Short
Again this trade based on Technical cum Personal view.
I went short 500,000 EURUSD at 1.20304 with a Stop Loss (SL) 1.2080 and Take Profit (TP) at 1.1975. I have this strange feeling that it could break 1.2000 levels, even if it is for a brief period and the fall could be very forceful before a support comes. It may happen either in a day or two, but sure to happen. That is what I read from the charts.
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USDJPY Long position (03 Jan 2018)

WrecklessTrader Posted 3 Jan.  in #Trader's blog #Usdjpy #Traders Contest #Usdjpy Long
Wishing every body a Happy and Prosperous New Year 2018
This is my first trade of the year 2018. This trade has been taken with a couple of days view in mind. It has an element of Technical as well as Personal view attached to it. I did rather say bit more of Personal view.
I went long 500,000 USDJPY at 112.287 with a Stop Loss (SL) at 112.00 and a Take Profit (TP) at 112.75. I studied the daily charts, found its time for the pair to move towards 112.75 or even higher.
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EUR/USD short trade 27Dec2017

WrecklessTrader Posted 27 Dec.  in #Eurusd #Trader Contest #Trader'sblog #Traders Rules #Eurusd Short
I don't know ever since I entered the contest, I am not able to make any kind of impact with my trades. Here I have to follow so many rules, that is hindering my normal trading behavior. But this is a contest, where rules are to be respected.
I am a trader who trades freely. Whenever I do that I make good profit margins. I love fast scalping and play both short and long. Since i have to stick to the trading contest rules, I am trying to learn to trade in a different way. This month will be learn…
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EUR/USD Short Trade 21Dec2017

WrecklessTrader Posted 21 Dec.  in #Trader's blog #Eurusd #Trader Contest #Short Trade
I took a short trade on EURUSD at 1.1868 levels with a SL at 1.1895 and TP at 1.1820. After going above 1.1900 for a brief period, the prices were in a range for a long time and then fell down closer to 1.1850 today and a subsequent rise back towards 1.1880. I feel it will not break this resistance and the only way is down. If the down trend breaches 1.1848, it could travel a lot down wards. I feel it is better to take profit at 1.1820 and initiate a new trade if trends confirm to take another t…
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1 Comments
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WrecklessTrader 22 Dec.

My assessment about the market directions were right. It broke 1.1848 with a sudden move and went all the way to 1.1816. This trade happened today (22 Dec 2017) morning. It was too early for me to wake up. When I opened the terminal, to my surprise the target price has been hit. And the price returned to 1.1848 and has been around that level for quite sometime. Once a clear trend emerges, I will take another trade in the direction of the trade.

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EUR/USD (18 Dec 2017)

WrecklessTrader Posted 18 Dec.  in #Trader's blog #Tradercontest
This trade was entered at 1.1800 levels. My reading of the chart indicates the market is in for an upmove and will continue for more time. It has not completed its upward journey. Stop loss is placed at 1.1780 and take profit at 1.1850. this trade is to based on my analysis of price actions and based on 4 hour chart. I have used pivot points, simple moving average while deciding to enter this Long trade.
This is my first trade based on price action strategy.
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Todays Trades

WrecklessTrader Posted 13 Dec.  in #Trader's blog
Todays trades gave mixed to bad results. GBP/USD and EUR/USD both made one trade profit, and the second ended in disaster.
I found that sometime while entering the SL and TP i get confused with the software. Its only after the order was placed I realised that SL was kept too close for the GBP/USD deal. As per my trading strategy, I decided to stay away from initiating further orders. A break from trading is always better than chasing trades.
I will be back tomorrow with a fresh mind and attitude…
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GBP/USD

WrecklessTrader Posted 12 Dec.  in #Trader Contest
I took this trade around 1.3344 levels when I felt that the market has come to a level from which it wont go down any further. It moved pretty fast towards my take profit area. so I felt its time to move the stop loss above the buy price and into a profit area. i deided that if price moves another 10 pips higher, i will move the stop loss by 5 pips.
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