Wednesday, February 3, 2010

My first Forex Post



So I thought I'd share some of my experiences in the forex market today... Made about $206 I believe in the USD/JPY 30 min charts.... yeah.. it may seem like $200 a day is nothing, but just to let you know a day like this for me is pretty rare. I'll be lucky to see a $200 day once every 2 weeks.

Anyways on the 30min charts the second hump you see right before I put on my trade, it was sitting on a nice 90.50 round number, 50 fibonacci retracement, and previous support zone. As you can see I got out way early but I was more concerned that it would start to consolidate at this zone so I got out.... Wuss... actually I played this trade pretty smart.

There's a couple more things I saw in this chart that gave me some hints that it was going south but I don't feel like explaining because it'll take forever. Maybe one day I'll explain all the stuff in here.

Sorry about the trading lingo language whatever.. if you have no idea what I'm talking about just let me know, I'll try to explain it as best as I can because I do want to make this site noob friendly eventually.

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