• Journal

    Registered a losing week both financial and psychological

    Pretty disappointing start to the month. I have had a losing week once again. Granted the market is very slow but I have done some severe mistakes. I do have a cutoff period of -50 pips and i should slow down when i hover around that mark. But this time i was on a rush for some reason so i kept on placing trades only to lose. July 5th , 2017 was really sad day for me. I lost a mammoth 100 pips. I didn’t follow my own criteria. I was taking trades on believe not what i was seeing in the market. One important lesson that i really need…

  • Journal

    Hammered by big moves early New York session : Forex

    oh boy ! what a move ! albeit on the wrong direction. 15 minutes before the New York session, i took LONG pullback on GBPUSD and GBPJPY hoping it would go up. At least that’s what i read from the price action. Since i take trades with small stop loss, i would retake the trade from a below level in case i get stopped out. In split of seconds all my 4 trades were taken out and i was -42 pips early NY session. This is what it looked like in most of the pairs. I took my long positions on the yellow line but it quickly wiped out. These…

  • Journal

    Oil price fueling CAD Pairs, Big moves at forex 20th April 2016

    Some late swing with CAD pairs after New York session. It started quite slow but now picked up pace. At the moment of writing this, oil price hitting 43.18$ and continue to go up. Which is perhaps behind massive CAD moves. I was mentally prepared to close the shop with break even but then this happened. I actually read the pair as in range. however, since nothing was moving early NY session so i thought i want to take a chance. so i took a market order from a good area with 12 pips stop loss as you can see from above picture (Here i changed my stop loss to…

  • Journal

    News day at Forex trading 19th april, 2016

    Today is a big day in terms of fundamental news. News started 1 hour before the New York session USD building permit. Also lined up with RBA , BOE,  BOC bank governors speaking in public which tends to move the currency market a lot. At the time of writing this blog, i honestly did not see big movement although it was enough to bank some pips. I was wary of the news hence i didn’t take lot of good positions. Some other days it could have saved me from going loss but today i’m ending my session with a small profit. But i do learn almost everyday. It was USD…

  • Journal

    Forex trading Journal New York session 18th April 2016

    welcome to my blog post. Today is my first entry. I planned to be regularly updating my blog. I shall be recording my Forex journey and share with you guys. well today at New York session was good. Usually Mondays are dead. But i learned not to predict and be there always. Lot of movements especially with YEN pairs. I was expecting CAD move at NY session as the big oil guys had meeting this Sunday without any settlement. Oil price also dropped a lot which usually drives CAD pairs. We started  trading with a gap so i was expecting a gap filling. however, that happened with YEN pairs. Does…