College student Journal

Bad GDP number from Japan. thats the news I was waiting for. long USD/Jpy

we have reached a fib 61.8 . I went short on that

dont forget to check my dukascopy web page for the contest ;

http://www.dukascopy.com/traderconte...og&trader=Melo

Position closed with 24 pip profit

Normally, I should long the EUR/USd, but tomorrow we have the germain Zew survey. I cant risk a long because this news will affect my position.

we just broke an important level on USD/JPY. I will wait till the price reach the yellow line to add another long.

too bad I couldnt trade for the past few hours, I was sleeping

please, dont forget to check my homepage for the dukascopy contest. Every click help me move toward the first place:

http://www.dukascopy.com/traderconte...og&trader=Melo

with thing improving on both Europe and US, Oil price are very very likely to go up. I added a long on oil

my position on the Yen so far. I will wait for the CPI to judge whether yes or no to close my position on oil.

Im making progress on the dukascopy contest. Im now reached 146 place so far. It maybe far from the first place, but Im sure most of the guys above me will blow their account before the end

http://www.dukascopy.com/traderconte...og&trader=Melo

We now reached fib 61.8 on the USD/Jpy. We will be aiming for fib 50 now. These fibonnacci level are extremely strong so the rate of success is very high. I will open a 6 lot position on this one. Ive been waiting for months for this setup.

too bad that silver and gold are out of reach. I always thought that I would enter a longterm position on these commodity before the move on USD/JPY

we had a meduim week. Although im up for the week, both in profit and in pip, I missed 5 opportunities.

Shame on me to miss the oil move. I closed the position to early. Instead of having a small loss, I would have earn a very decent profit, about 5%.

I did missed 4 opportunities on the Euro. Even if they were 4 scalping opportunities, they were easy to trade an I missed them.

The only good thing I did this week was my trade in the USD/JPY. I caught a huge part of the upward trend this week. On my live account, I made a 5% so far.

Next week, I will focus more on this trading account than the one on Dukascopy. I didnt trade enough on this demo account, but if you want to see all of my trade for this week, go on my dukascopy page and you will see them.



Have a good week-end everyone

I added a long on the Yen. It seems like we had to take a pause and now the time is over. We are very likely to continue our upward movement

It may seems madness, but I added a short on the EUr/USD. i will add a long latter on or tomorrow.

I also added a short on gold. tomorrow we will have a fed meeting and it will be bad for gold, unless there will be QE

The japanese trade Balance was worst than expected, but we couldnt see a negative news on Forexfactory, I had to check on FXstreet instead. too bad, because of this, I closed my long, I will open a new on tomorrow

Losses for the trade on gold, but atleast now we can predict how the market is going to react. the next NFP will have a good impact on September.

The yen fell, but stopped at a fib 50, its is very likely that it will return up.

I added a long there

we broke 61.8, but i will not close my position so soon

Back to school now. I will have less time to trade i guess. Im starting tomorrow in physics

Ive had a very bad week last week. I made 2 bad trade that cost me a lot. Next time, I will trade only once the news is released.

For this week, we have 2 very important even that will move the market. The first even will be the US preliminary GDP number. If we have a good GDP number, they fed wont be able to do QE3, but if we have a bad number, I will heavely buy gold and the Euro.

the second event will be the Fed speech near the end of the week. Like on the previews week, this speech will be very important, and this time, i will not try to guess what he will say.


So have a good week everyone and I hope we all end up in profits

call sos

your progress chart is sinking

did you do it any better? lol

I know, Ive had several bad trades on the past 2 weeks. thats forex, we cant always win. what is important is what I will achieve in the long run, not in the short run. hope to make atleast 1% this week.

by the way, how is your trading. have you made a lot of profit last week with the huge trend in the Eur/USD ??

Tomorrow will be an important day. We will have the GDP figures. If positive, it will simply mean that the chance that the Fed will do QE3 will be very unlikely. If we have a negative numbers, then the fed might want to use this data release as an excuse to lauch QE3

So if the GDP numbers are good, I would short gold and the Euro. For the Euro, i would go short and aim for 1.2380, which is fibonnacci 23.6 on the weekly chart and will be a good support point for the time being. This position will have to be closed for friday, before the fed chairman speech. 1.2660 will be a good stop loss for that position.

As I said, I would also go short on gold. I would aim for 1635 and then wait for the Fed speech. Gold moved a lot for the past day because people are hoping for more easing from the Fed, but if things are doing well, there will be no reason for the Fed to print more money.


If the GDP figures are negative, I would go long on gold for longterm. People are really optimistic on gold, and a bad GDP figure will not only weaken the dollar, which would then strengthen Gold, but it will also indicate that the US economy is not doing well at all.

I would also long the Euro and aim for 1.2750, a very strong resistance level on the weekly chart, the fib 50.

So tomorrow will be an interesting day. the GDP figures will indicate whether yes or no the US economy is doing well. The fed is also waiting for these figure since they will need them to make their decision.