GBP/JPY breakout to the Long side was successful, took profit at 60 pips as I couldn't manage the trade live - I had to step away from the screen. On the EUR/USD 2x 'PipShift' positions Long were successful netting 35 (15+20) pips in quick ...

PipShift Trading Journal

PipShifting in progress. image In contrast to the EUR/USD daily scalping above I have break-out positions set on GBP/JPY, 153.39 (target 152.40) and 155.69 (target 157.05).

PipShift Trading Journal

As they say, fortune favours the bold... perhaps I'll be bald after this one though? No seriously, there is a strategy you can use to trade large news trades, they don't always work of course and they are inherently risky compared to the usual major ...

PipShift Trading Journal

Long Scalp 1.4214 Stop 1.4203 TP 1.4234 Long Scalp 1.4252 Stop 1.4241 TP 1.4272 Trades Invalidated by 13:15 GMT (15 minutes in advance of major news releases).

PipShift Trading Journal

The exact same trade setup last nigth/today, unfortunately I wasn't at my desk to see it and so missed it - typical. I've place a counter Short trade at 1.4315 with a 25 stop in to prior resistance which looks to be strong. I'll address the ...

PipShift Trading Journal

Pip stands for percentage in point. A pip is equal to 1/100th of 1 percent. So, a Micro Lot is 1 cent per pip, a Mini is $1 and a Standard $10 per pip. I'd suggest starting on Mini lots in the demo, you can size them to suit your trade, for example ...

How many pips do I need?

Failed, stopped out on a spike. Not a good day - some you lose, some you win.

PipShift Trading Journal

Failed at 5m trendline (break) -7pips.

PipShift Trading Journal

5m - Bear Resistance 1.4270 / Support 1.4263 TRADE - Long (Scalp) - 1.4271 Stop: 1.4259 - Target: 1.4296

PipShift Trading Journal

TRADE - SHORT (Scalp) - 1.4296 Stop: 1.4309 - Limit: 1.4266 Invalidated if Euro loses momentum - 5M RSI showing resistance at 64.8.

PipShift Trading Journal

Today we hit both the 50% Fibonacci level on our daily chart (past 7 trading days) and the 50% level on the Year To Date (YTD) - will the up trend falter? image How I'll trade this key level. Wait for a move up to 1.4295 for a continuation. Wait ...

PipShift Trading Journal

I'll take a look at the FIB levels shortly for a pull-back for entry Long. In reserve a limit order at 1.4216, stop 1.4201, target ~40pips depending on current pattern formation.

PipShift Trading Journal

No trade currently. EUR/USD target 1.4288 unless steep 1H trendline broken before then.

PipShift Trading Journal

Today's Provisional German Q2 GDP report, out at 06.00GMT+1, should show a marked improvement on the horror story that was the horror story that was the first quarter's number of -3.8% q/q, the worst quarterly reading since re-unification in 1990, ...

PipShift Trading Journal

EUR/USD is a good pair, it has a character that over time you can become familiar with. Good liquidity and generally adheres to trends well. As for $300-$500, that could be 30-50 pips on full size contracts ($10 per pip).

How many pips do I need?

If you're not reading the market and trade straight in to a serious move, at least cover yourself with a stop or TS!

Scalping Signals

ARE WE ABOUT TO SEE A MASSIVE USD RALLY? In Commentary on August 11, 2009 at 9:50 PM To further cement the sentiment of yesterday's article "It's All About the Dollar", I'd like to present you with some interesting details that show the whole world ...

PipShift Trading Journal

EURO TRADE ANALYSIS & FMOC RELEASE In Trading Analysis on August 12, 2009 at 8:31 PM It's been an interesting day on the EUR/USD with a steady move up away from the long-term trend at ~4.4100 to a new high for the week of 4.4246... and then the FMOC ...

PipShift Trading Journal

That's a good post, some interesting points.

How can I make a living trading forex?