Bloody Skirmish, But ‘Forex War’ Still On Track

Bloody Skirmish, But ‘Forex War’ Still On Track

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Table of Contents

Could be fatigue! On the other hand, the brain just shut down, or something. Something must have happened. Went against almost all forex in-trade management rules. The trading day started badly but I was able to save the day in the end. What exactly happened?

Greed

The EURAUD forex sell trade was a counter trend from the beginning. Well, according to one of my systems as the candlesticks are above the Kumo. This is a big indicator to consider most of my trades to be Buy signals. The thing is yesterday the pair had enough confluence for a sell in the Pivot System. But it is good I considered the trade because that is the whole point of speculative finance, gain from calculated risks. The problem was that I was a tad too greedy (or careless) and did not put a take profit at the cloud. I was hoping (there is very little room or none for that matter for hope in trading) the trade would go past the cloud.

Considering the high probability of the price being on a Long bias, the price got to Kumo, violated it a bit, and indeed retraced to Long direction. Instead of exiting this trade because of the mistake of not placing a very clear take profit, I โ€˜Hopedโ€™ for it to continue in the Short direction. It did not and up to now, it has not. Eventually salvaged the situation and exited with a profit of around 270 points. If I had put my profit at the Kumo I would have gained around 600 points. Anyway, Lesson learnt. For counter trades, consider a take profit point.

EURAUD Forex Pair
270 points on this. Could have been 600 points if I placed a TP on the Kumo

Forex Trading Bias At Play

With few words as possible, I was wrong with the CADJPY Long forex trade. First, I was late with the trade (today after much review, I note my entries are a bit late). After the late entry, the system clearly indicated the trend has changed but I was too stubborn to exit the trade. Loss aversion is in play over there. Refer to yesterdayโ€™s blog comments on that trade. This article talks more about trading biases.

Waiting on a bigger move on the daily chart.

By 1730 GMT+3 when I looked at the trade, It was negative 600 points. The best thing to do was to exit the trade then but I decided to risk a just a little more.  Decided to wait on the Crude Oil Inventories news that would be released in an hoursโ€™ time, you know to try to regain some points, or make things worse, Yikes.

Because the Oil Inventories were way less than expected, meant the oil supply was less, therefore increasing oil price. Looney being an Oil Comdoll meant I saved 200 points. I admit I am Proud of that moment but I also acknowledge there was a bit (a lot ๐Ÿ™‚ ) of luck in the trade. In the end, negative 400 points for the CADJPY trade.

CADJPY Failed Buy
Negative 400 points CADJPY. Will thoroughly review this trade after resting.

GBPs Saved The Day

I must admit, exiting the CADJPY forex trade minus the 400 points took a toll on my energy reserves. Looking at my GBP trades (GBPJPY and GBPUSD), felt they had run their course. I did not like the way they were choppy in their movement. Just as I was looking at the GBPJPY, it moved negative 200 points then moved positive 200 points in a span of 20 minutes. The 20 minutes felt like a millennium. I felt I did not have the energy to manage the 2 trades.

Nevertheless, GBPUSD was doing very well. It gave me more conviction to exit the two trades. Exited GBPJPY trade with 200points and GBPUSD with 1250 points.

GBPJPY Forex Pair
200 points on GBPJPY Long
GBPUSD 1
1250 points on GBPUSD. ADP news helped ๐Ÿ™‚

Another Biased Forex Trade?

In the morning, traded EURGBP Long which in the beginning was ok but later moved against me. Will start treating these 4H trades intra-day or scalps. 4-hour chart trades are not like the Daily chart trades that I tend to set and forget peacefully.

I will not extremely micro-manage this trade as it has not reached the threshold to consider an early exit before hitting the stop loss. Will give it time. However, I do not want to be with the trade until tomorrow afternoon (Bank Of England news releases) and Friday (Non Farm Payrolls), (but the weekโ€™s news has been kind to my trades, soโ€ฆ). The open trade is currently negative 110 points. Overall, Iโ€™m still past the 1000 point profit for the week. Will do the proper calculations tomorrow. Todayโ€™s forex skirmish has really worn me down.

EURGBP 4H
Giving this EURGBP trade time. Not reached the threshold to consider an early exit.

Remember to comment below or at the forex forums. Nice time folks.

18 thoughts on “Bloody Skirmish, But ‘Forex War’ Still On Track

  1. Id like to thank you for the efforts youve put in writing this blog. I am hoping to check out the same high-grade content by you later on as well. In truth, your creative writing abilities has motivated me to get my own, personal website now ๐Ÿ˜‰

  2. ืืฆืœื™ ืชืงื‘ืœ ืขื™ืกื•ื™ ืžืคื ืง ื‘ืจืžื” ื”ื›ื™ ื’ื‘ื•ื”ื”
    ืื ื™ ืžืขืกื” ืฆืขื™ืจื” ื•ืžืงืฆื•ืขื™ืช ืฉื ืจืื™ืช ืกืงืกื™ืช ื‘ื˜ื™ืจื•ืฃ.
    ืฆืขื™ืจื” ื—ื“ืฉื” ื‘ืžืงื•ื ืคืจื˜ื™, ืžื—ื›ื” ืœืš ืœืขื™ืกื•ื™ ืฉืงื˜ โ€ฆ ื—ื“ืฉื”
    ื‘ืจืขื ื ื” ื“ื•ื’ืžื ื™ืช ืขืœ ื™ืฉืจืืœื™ืช
    ืžื—ื›ื” ืœืš ืœืขื™ืกื•ื™ ื›ื™ ื—ื ืฉื™ืฉ ื‘ื™ืฉืจืืœ.

    ืงืจืŸ ื‘ืœื•ื ื“ื™ื ื™ืช ื—ื“ืฉื” ื‘ื‘ืช ื™ื !

    ื›ืคื™ ืฉื™ืฉ ืขื™ืกื•ื™ ืื™ืจื•ื˜ื™ ื‘ืคืชื— ืชืงื•ื•ื”, ื›ืคื™ ืฉื™ืฉ ืขื™ืกื•ื™ ืื™ืจื•ื˜ื™ ื‘ื™ืคื•, ืชื•ื›ืœ ืœื”ื–ืžื™ืŸ ื’ื ืขื™ืกื•ื™
    ืืจื•ื˜ื™ ื‘ื‘ืช ื™ื. ืžื“ื•ื‘ืจ ืขืœ ืžืขื™ืŸ “ื›ืจื˜ื™ืกื™ื™ืช ืขื™ืกื•ื™ื™ื ื‘ื‘ืช ื™ื!” ืฉืืชื
    ืจื•ื›ืฉื™ื ืžืจืืฉ, ื›ืš ืฉืชื•ื›ืœื• ืœืงื‘ื•ืข ืขื ื”ืžืขืกื”
    ืžืคืขื ืœืคืขื ื‘ื”ืชืื ืœืœื•ื— ื”ื–ืžื ื™ื ืฉืœื›ื
    ื•ืœืฆืจื›ื™ื ืฉืœื›ื. ืขื™ืกื•ื™ ืื™ืจื•ื˜ื™ ื‘ื’ื‘ืขืชื™ื™ื,
    ื”ืžืฉืœื‘ื™ื ืžืกืื’ ื˜ื ื˜ืจื™ ืืœื• ื”ืกื•ื’ื™ื ื”ืคื•ืคืœืจื™ื™ื ื‘ื™ื•ืชืจ, ืขื™ืกื•ื™ื™ื
    ื˜ื ื˜ืจื™ื™ื ืžืฉืœื‘ื™ื ื™ื“ืข ืฉืœ ืžืื•ืช ืฉื ื™ื ืžื”ืชืจื‘ื•ืช ื”ื”ื•ื“ื™ืช, ื˜ื›ื ื™ืงื•ืช ืงืืžื”-ืกื•ื˜ืจื ื•ืขื•ื“, ืžื•ืขื“ืคื™ื ื‘ืงืจื‘ ื”ืœืงื•ื—ื•ืช, ื‘ื”ืชืื ืœืฆืจื›ื™ื ืฉืœืš ื•ืกื•ื’
    ื”ื ื™ืกื™ื•ืŸ ืฉืืชื” ืžื—ืคืฉ, ื›ืืฉืจ ืืชื” ืžื—ืคืฉ ื˜ื™ืคื•ืœ ืขื™ืกื•ื™ ื‘ื’ื‘ืขืชื™ื™ื, ืกื‘ื™ืจ
    ืœื”ื ื™ื— ืฉืชืขื“ื™ืฃ ืžื˜ืคืœืช ืขื™ืกื•ื™ ื‘ืขืœืช ื ื™ืกื™ื•ืŸ, ืฉื™ื•ื“ืขืช ืœื”ืขืจื™ืš ืืช ื”ืœืงื•ื—ื•ืช ืฉืœื” ื•ืœื ืื—ืช ืฉืจืง ืจื•ืฆื”
    ืœื’ื‘ื•ืช ืชืฉืœื•ื, ื•ืœืกื™ื™ื ืืช ื˜ื™ืคื•ืœ ื”ืขื™ืกื•ื™ ื‘ื’ื‘ืขืชื™ื™ื.
    ืขื™ืกื•ื™ ืื™ืจื•ื˜ื™ ื‘ื’ื‘ืขืชื™ื™ื ืขื™ืกื•ื™ ืื™ืจื•ื˜ื™ ื‘ื’ื‘ืขืชื™ื™ื ื›ื•ืœื ืžื—ืคืฉื™ื ืืช ืื•ืชื• ื”ืฉื™ืจื•ืช ืื‘ืœ ืœื ืชืžื™ื“
    ืžื•ืฆืื™ื ืืช ืื•ืชื” ื”ื—ื•ื•ื™ื”, ื‘ืขื™ื“ืŸ ื‘ื• ื”ืžื•ืŸ ื’ื‘ืจื™ื ืจื•ืฆื™ื ืœืคืจื•ืง ืขื•ืœ ื•ืœื”ืฉืื™ืจ ืืช ืฉื’ืจืช ื”ื—ื™ื™ื ื‘ืฆื“ ื›ืœ ืžื” ืฉื ืฉืืจ ื–ื”
    ืœืžืฆื•ื ืืช ื”ื”ื ืื” ื”ื’ื“ื•ืœื” – ืขื™ืกื•ื™ โ€ฆ ื›ืืŸ ืชืžืฆื ืื•ื“ื•ืช ื›ืœ ื”ืขื•ืกืงื™ื ื‘ืชื—ื•ื ื”ืื‘ื—ื•ืŸ ื•ื˜ื™ืคื•ืœ ืœื ืคืฉ, ืคืกื™ื›ื•ืœื•ื’ื™ื” ื•ืžืจืคืื™ื,
    ืงืœื™ื ื™ืงื•ืช ื‘ื—ืจื• ื•ืฆืจื• ืงืฉืจ.

  3. ืžื—ืคืฉื™ื ืงืœื™ื ื™ืงื•ืช ืœื”ืฉื›ืจื”? ื”ื™ื›ื ืกื• ืขื›ืฉื™ื• ืœืœื™ื ืงืœื™ ื•ื‘ืขื–ืจืช ืžื ื•ืข ื”ื—ื™ืคื•ืฉ ื”ื—ื“ืฉื ื™ ืฉืœื ื• ืชื•ื›ืœ ืœืžืฆื•ื ืžื”ืจ ื•ื‘ืงืœื•ืช
    ืืช ื”ืฉื™ืจื•ืช ืื•ืชื• ืืชื ืžื—ืคืฉื™ื. ืžืจืฆื” ื‘ื›ื™ืจ ื•ืžื˜ืคืœ ื‘ืจืคื•ืื”
    ืกื™ื ื™ืช ื•ื™ืคื ื™ืช, ืžื ื—ื” ื•ืžื ื”ืœ ืงืœื™ื ื™ืงื•ืช ืกื˜ื•ื“ื ื˜ื™ื ื‘ืžื›ืœืœืช ืชืžื•ืจื•ืช.
    ืขื™ืกื•ื™ ืžืงืฆื•ืขื™ ื‘ืงืจื™ืช ืฉืžื•ื ื”/ื ื”ืจื™ื” -ื”ื™ื•ื ื™ืฉื ืŸ ื“ืจื›ื™ ื˜ื™ืคื•ืœ ืจื‘ื•ืช ื‘ื’ื•ืฃ ื•ื‘ื ืคืฉ ืฉืœ ื”ืื“ื, ื—ืœืงืŸ ืฉื™ื˜ื•ืช ืงื•ื ื‘ืฆื™ื•ื ืืœื™ื•ืช (ื›ืœื•ืžืจ ื›ืœ
    ืžื” ืฉืงืฉื•ืจ ื‘ืจืคื•ืื” ื”ืจื’ื™ืœื” ืฉื›ื•ืœื ืžื›ื™ืจื™ื – ืœืœื›ืช ืœืจื•ืคื, ืœืขืฉื•ืช ืฆื™ืœื•ืžื™ื, ื‘ื“ื™ืงื•ืช ื“ื,
    ืœืงื—ืช ื›ื“ื•ืจื™ื ื•ื›ื•โ€™) ื•ื™ืฉ ืืช ื”ืจืคื•ืื” ื”ืžืฉืœื™ืžื”, ื”ืืœื˜ืจื ื˜ื™ื‘ื™ืช ืื ืชืจืฆื•,
    ื”ื›ื•ืœืœืช ื˜ื›ื ื™ืงื•ืช ืจื™ืคื•ื™ ื˜ื‘ืขื™ื•ืช. ื›ืœ ืฉื ืฉืืจ ืœืขืฉื•ืช ื›ืขืช ื–ื” ืœื‘ื—ื•ืจ ืืช ื”ื‘ื—ื•ืจื” ื”ืžืชืื™ืžื” ืžืชื•ืš ืื•ืชืŸ ื ืขืจื•ืช ืœื™ื•ื•ื™ ื‘ื—ื™ืคื” ื•ืœื™ื”ื ื•ืช
    ืžื–ืžืŸ ืื™ื›ื•ืช ืžืคื ืง ื•ืžื”ื ื” ื‘ื—ื‘ืจืชื”.
    ืœื‘ื™ืœื•ื™ ื‘ื“ื™ืจื•ืช ื“ื™ืกืงืจื˜ื™ื•ืช ื™ืฉื ื ื™ืชืจื•ื ื•ืช
    ืจื‘ื™ื, ื‘ืžื™ื•ื—ื“ ื›ืืฉืจ ืžืฉื•ื•ื™ื ืื•ืชืŸ ืœื‘ื™ืœื•ื™ ื‘ื‘ื™ืช ืžืœื•ืŸ:
    ืืœ ื”ื“ื™ืจื•ืช ืื™ื ืš ืžื’ื™ืข ื‘ืื•ืคืŸ ืืงืจืื™, ื”ืŸ ืžืฆื•ื™ื“ื•ืช ื•ืžืื•ื‘ื–ืจื•ืช ื‘ื›ืœ ื˜ื•ื‘, ื›ื•ืœืœื•ืช ื ืขืจื” ืื—ืช ืื• ื™ื•ืชืจ ื•ืฉื
    ืชื•ื›ืœ ืœื”ื’ืฉื™ื ืืช ื”ืคื ื˜ื–ื™ื•ืช ื”ืคืจื•ืขื•ืช ื‘ื™ื•ืชืจ ืฉืœืš.
    ืงื—ื• ืืช ื”ื“ื™ืกืงืจื˜ื™ื•ืช, ืงื—ื• ืืช ื”ืืกืชื˜ื™ืงื” ื•ื”ื ื™ืงื™ื•ืŸ, ืืช ื”ืžื™ืงื•ื
    ื”ื ื•ื— ื•ื”ื›ื™ ื—ืฉื•ื‘ ืืช ื”ืžื™ื“ืข ื”ืžื”ื™ืžืŸ ื‘ื™ื•ืชืจ ื•ื”ื ื”
    ืงื™ื‘ืœืชื ืคื•ืจื˜ืœ ืœื•ื”ื˜ ื•ืžื“ื”ื™ื ื”ืžื‘ื™ื
    ืงื˜ื’ื•ืจื™ื” ืฉืœ ื“ื™ืจื•ืช ื“ื™ืกืงืจื˜ื™ื•ืช ื‘ืœื‘ ื’ื‘ืขืชื™ื™ื, ื“ื™ืจื•ืช ืฉืืฃ ืื—ื“ ืœื ืฉืžืข ืื• ืจืื” ืื•ืชืŸ ืื‘ืœ ืื ืชื‘ืงืจื•
    ื‘ืคื•ืจื˜ืœ ื”ื™ื•ืงืจืชื™ ืชื•ื›ืœื• ืœื”ื’ื™ืข ื‘ืงืœื•ืช ื•ืœื”ืฆื˜ืจืฃ ืœืœื ืžืขื˜ ืื ืฉื™ื ืฉื›ื‘ืจ ื—ื•ื•
    ืืช ื”ื”ื ืื•ืช ื‘ืืžืฆืขื•ืชืŸ. ื“ื™ืจื•ืช ื“ื™ืกืงืจื˜ื™ื•ืช ื‘ื’ื‘ืขืชื™ื™ื ื–ื” ื™ื›ื•ืœ ืœืงืจื•ืช ืœื›ื ืœืœื ืคืฉืจื•ืช, ื—ืžืฉ ื“ืง’ ืžื›ืœ
    ืžืงื•ื, ื‘ื™ืœื•ื™ื™ื ืกื•ืขืจื™ื, ืžืจื›ื–ื™
    ืงื ื™ื•ืช ื•ืืคื™ืœื• ื“ื™ืจื•ืช ื“ื™ืกืงืจื˜ื™ื•ืช ื’ื‘ืขืชื™ื™ื ืฉื™ืฉืœื™ืžื• ืœื›ื ืืช ื”ื”ื ืื•ืช ื•ื™ื‘ื™ืื• ืืชื›ื ืœืžืงื•ื ื”ืžืขืฆื™ื ื•ื”ืžืจื˜ื™ื˜ ื‘ื™ื•ืชืจ.

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