3 pairs already stopped out

Man this is a tough market. I woke up this am to find that 3 of my 5 pairs were already stopped out. USD/JPY was stopped out for $7.90. GBP/USD was stopped out for a whopping $22.64.  Last but not least, USD/CHF was stopped out for $17.86. There is suppose to be some US news coming out today. I hope this helps that market to develop a trend. Most of the time the market is like this in a ranging mode. I have to try and hold my own, which is obviously difficult, until a trend breaks out. It’s during the trend that I will make my largest gains. Let’s see how the markets develop for the rest of the day.

By the way EUR/USD is almost stopped out also. The stop/loss was actually touched once, current price is only a few pips away. Let’s see what happens…

Door opened and slammed shut

Last night I opened four positions. Four of my five pairs were stopped out by this evening. I am currently having trouble accessing the history so I don’t know exactly how much was lost in my account in those four trades. However, currently my account is down $175.00 for the month of January. The only trade that is still open is  Long EUR/USD which is currently down -10 pips. Four new trades are currently opened.

Short GBP/USD, stop/loss is set -70 pips

Long USD/CAD, stop/loss is set -60 pips 

Long USD/CHF, stop/loss is set -61 pips

Short USD/JPY, stop/loss is set -26 pips

New posistions are now opened let’s see where we go this month. I am looking for a great Feb. and I hope you have one as well.

I am changing the way I talk

I will be updating this blog later but, I wanted to make a quick note. I am going to change the way I talk. I have been talking in terms of pips when talking about gains and loses in the forex market. I am going to change that and from now on and I will start talking in terms of US dollars gained and lost on each trade. The reason I am going to do that is because it will be easier for me first of all. Also it will be easier for people who read this blog to get a better grasp of how much is being made and lost on my demo account. Later on this evening you will see the first post showing how much I have gained or lost on each trade.

All the best,

Jackie O’Quinn 

Update on trades from last night

Last night I did the usual open closed trades and adjust my daily stop/losses. Since last night I have already had one pair hit the stop/loss. GBP/USD was stopped out for a loss of 28 pips. That trade will be reopened tonight. All current trades are as follows:

Short USD/CHF     Price 1.2531      Stop/Loss 1.2572     Guaranteed Pips -41 pips

Long USD/CAD      Price 1.1803      Stop/Loss 1.1779     Guaranteed Pips -24 pips

Long EUR/USD      Price 1.2950     Stop/Loss 1.2891     Guaranteed Pips -59 pips

Long USD/JPY       Price 121.67     Stop/Loss 121.45      Guaranteed Pips -22 pips

It doesn’t look like there is going to be a break out anywhere in the Forex market today. I will keep watching and re open any stopped positions this evening. Hopefully we will be able to at least adjust some stop/losses to increase the Guaranteed Pips. Stay tuned…

Current total pips so far for January is +227

Forex play by play

EUR/USD was stopped out earlier for -24 pips. That means there are now two trades that I will reopen tonight. Current positions are up 71 pips right now. Will post trades tonight.