Some quick updates on our daily forex and Gold trades, using blank charts with no indicators. Clean, simple, and effective! 😀
Forex Price Action Trading | Student’s Trades – Gold
Forex Price Action Trading | Student’s Trades – GBP/USD
Forex Price Action Trading | Student’s Trades – EUR/AUD
After my afternoon tennis game today, I was checking up on my hands-free forex trades, and I noticed that my NZD/USD HFT swing setup which I entered a few days back has retraced and hit my breakeven stop. During my last workshop, someone asked me about this and I told them that I took half profits when the price broke to a new high.
On hindsight, I might have considered taking full profits and going short instead since it had run into strong resistance.
HFT Forex Trading Strategies – EUR/AUD
For the EUR/AUD, I have taken half profits as well, after taking the HFT short setup a couple of days back. I will continue to trail my open profits of $1,700+ till price reaches the next support level. My stoploss is already past my entry point, so this is essentially a risk-free trade. 😀
HFT Forex Trading Strategies – EUR/AUD open profits
HFT Forex Trading Strategies – NZD/USD
Today, I spent the day with some friends who came back from the US, and we went to take a tour of the magnificent “Gardens by the Bay”.
There wasn’t much trading to be done, so I just did 2 quick HFT Forex trades, and netted a small profit of $546.
EUR/AUD has run into strong resistance, while NZD is resting on strong support.
The US markets looked toppish on open, presenting a good short opportunity.
This looks like a rather nice place, perhaps I might come here to trade more often during the day. See you there! 😀
For the most recent episode on HFT (Hands-free Trading) Forex Trading, we focused on the AUD/USD and GBP/USD, which both look pretty bullish.
After the sharp move on the AUD/USD this morning, I am ready to trail my stops to protect my profits. I was using this to track the key news: https://synapsetrading.com/blog/market-pulse/
Just yesterday, I withdrew my monthly forex profits to top-up my investment portfolio. https://synapsetrading.com/2014/07/portfolio-updates-june-2014-the-art-of-hedging/
I am also glad to see that one of my students is applying the HFT strategies on the move, during his reservist. We will continue to monitor the GBP/USD pair, and I am also looking at EUR/AUD.
This is the first time I made a trade while cycling, and although I made a profitable trade, I would advise against anyone trying it because I almost crashed into a tree during the 15 seconds I was cashing in on my profits. :p
And that was the last time I looked at my charts, because although I “trade for a living”, trading should not be a major part of anyone’s life, as it is simply a means to generate income, but there are other more important things in life, such as friends and family.
The EUR/AUD might have another good breakout soon, and we should be ready to short again when that happens. I am also looking for bullish signs to accumulate more Gold.
After an intense 20km cycling trip with my friends, we ended the day off with a sumptuous meal, complete with desserts. 🙂 Always remember to celebrate the small victories! Cheers!
