Friday 6/13/08 Update

Friday the 13th....It's bad luck to be superstitious!

Well it was a good day. I was in two trades and both were positive. It puts me in positive for the week and again a new high for balance. Good stuff. Here is how it happened.

Today's Trades:

12:00am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.9456 with a stop at the most recent swing high at 1.9486. Since I was only 6 pips away from the nearest 50 or 00 level, I decided to go for the same amount of pips I was risking on the trade, which in this case was 30. This put my initial target at 1.9426.
Entry: Short at 1.9456

Stop: 1.9486

Initial Target: 1.9426

3:00am EST- My target was hit. I had a limit order in so I got filled at 1.9426

5:45am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD was positive and losing value. This was a valid entry. The entry was at the close of the candle at 1.9452 with a stop at the most recent swing high at 1.9482. Since I was only 2 pips away from the nearest 50 or 00 level, I decided to go for the same amount of pips I was risking on the trade, which in this case was 30. This put my initial target at 1.9422.
Entry: Short at 1.9452

Stop: 1.9482

Initial Target: 1.9422

8:15am EST- Unfortunately my target was not hit by this time and since news was coming out at 8:30am EST, I closed out my trade. I exited at 1.9450.

Results: 2 trades.....32 pips....3 lots.....96 pips.

Here are the charts. Talk to you soon.