Trades for Tonight : Monday July 21, 2008 at 7:00 PM EST

Today I lost 45 pips on the EUR/USD trade because I had moved the stop loss up from its original position. I am trying variations and tweaking my method, to see if we can lower our risk exposure. However it did not work today. The price movement hit revised stop loss and then reversed and for those that had the original stop loss in place would have made approx 30-35 pips by the end of the day. Further I forgot in my rush to close the NZD/USD trade in the morning as it had not yet executed and it got executed later during the day. I am in the negative at the moment on that trade, but my analysis shows the trade is still valid and hence I will keep it open.

The following is the summary of my account position as of tonight: (click on the image to see details and then hit the browser back button when done):


Further details are available at www.myforexdna.com

The following are the trades for tonight and in addition please carry the NZD/USD trade from yesterday: (click on the image to see details and then hit the browser back button when done):

The trades for tonight:

USD/JPY:

Sell: 106.30

Stop: 107.50

Limit: 105.10

EUR/USD:

Buy: 1.5935

Stop: 1.5785

Limit: 1.6085

NZD/USD (yesterday's trade):

Sell: 0.7595

Stop: 0.7685

Limit: 0.7505

I would highly recommend if your trades have not executed by morning please cancel them.
If in the morning your trades are in the positive and you happen to be in front of your computer around 8:00 am or 11:30 am feel free to close them if you so choose, or move your stop to the open price and let the trade ride.

I trade 1 lot at a time for the moment, unless I specify otherwise.

Please place the trades anytime BEFORE MIDNIGHT EST provided the prices have not been breached already.

Should you have questions feel free to email me at myforexdna@yahoo.com Should you be interested in a particular topic and would like me to post my thoughts let me know. If I am not comfortable but know of other resources I will be happy to point you in that direction. God speed and good luck with your practise trades.I have also posted some free systems for you to use and test at http://www.myforexdna.collectivex.com/