Forex Trading

Ok, just taken a new trade - taking this one small because of the recent volatility on this pair - just $1 per pip.

Last time i took this two weeks ago it netted over $1500 at $1 a pip so worth doing.

Long EURAUD 1.9277 stop at 1.8880 - almost 400 pips. I think we will either see new highs or it will correct back down to the 1.81 area. 400 pips risk for a potential 2000+ pip gain means a 5:1 rr ratio.

lets see.

keeping an eye on audcad for a return to trend (short) as it's currently testing previous support around 0.8400. not taking it yet though, will watch tomorrow morning and tomorrow night.

2nd trade is short AUDCHF from 7793 stop 7925 target new lows. $2 per pip

PS, as you see these trades take shape you will see quite a few losers - but when they win they typically win big. all trade sizes mentioned are for a typical $10k account.

The market may be going into a flux state as i call it where it's undecided - at these times i typically take small positions just to get in the potential trades - if i get two or three losers then i'll sit back and wait a while.

You'll get used to these periods as we go on.

Fingers Crossed then.