Holy crap I made a trade today!  I finally had some time this late afternoon and I figured I would check out what’s happening on the charts.  I spotted what seemed like a fairly simple play on the EUR/USD shortly before 5pm.  I felt a small retreat on the price would cause some jumping as people bought in.  As usual, I was comfortable getting in on a buy at this time because I am looking for small gains.  It looks like my move was the right one, although my timing could have been better.  My trade bounced around a little bit before it finally broke for a few pips profit.  I managed to grab 5 pips, which is more than I usually go for!  Here are the details.

Trade Summary:

Buy EUR/USD - 1.4962
Close Trade - 1.4967
Pips= 5

Oh my god I actually made a Forex trade!  This is shocking.  What used to be a part of my daily life has slipped completely out of my life.  My last trade was back in mid June!  Some people may see this as slacking.  And, quite honestly, they might be right.  I have slacked a little bit.  But I have also been realistic.  It was easy for me to spend time completely focused on charts back when I had a full time job.  As a student, I just don’t have the time.  I am usually doing some kind of school work or I am working out.  I spend so little time watching the charts that I don’t feel completely comfortable with them anymore.  I am going to try to spend more time at this so I can get sharp again.  Today was a day where I actually had time to do this!  This was different than most of my evening trades.  In those trades, I mark off a safe zone - an area I feel the currency wants to stay within.  When it gets to the top or bottom of this zone I wait for signs that it is about to bounce off and then I trade.  During the day things happen a lot faster and you can’t trust those zones.  You really need to pay special attention to momentum and correlation of similar currency pairs.  When you see those other currencies spike, you know that yours will probably follow.  That is what happened late this morning when I got into this trade on the EUR/USD pair.  I saw a nice spike downwards and I got in.  I was in this trade for probably 5 seconds before I bagged my 3 pips and walked away.  Now, the currency did continue a nose dive and I could have easily bagged another 10-20 pips.  But, I just as easily could have had the thing rebound on me and screw me into a loss.  I always walk away when I have made my safe profit.  I am completely happy with 1-2 pips per trade.  One of the best things about trading mid day is the spread.  At 0.9 pips I don’t have to be too right in order to make money.  The smallest of movements will get me a profit.  Here is to hoping I can get in some more trading like this next week!  As always, the charts and details of the trade are below.

Trade Summary:

Sell EUR/USD - 1.4727
Close Trade - 1.4724
Pips= 3

I haven’t posted anything to do with Forex in a while.  There is a reason:  I haven’t done any trading!  I have been busy most evenings and just don’t have the time to sit in front of the charts.  Tonight would have been ideal but I have already ruled out trading because of a large drop on the EUR/USD that takes any of my usual ranges out of play.  Anytime the currency hits a new high or a new low then I am sitting back and waiting for another day time to trade!  The spread is also at 3.5 pips and that is way too high considering that I have such small pip goals.  So, I look to other things to entertain me.  How about video games?  It has been a while since I have posted a Zero Punctuation review.  So, here is a gem.  This could be one of the most bitter and angry reviews ever.  I have to say that I agree with him for the most part.  I hate the Sims games.  Why would I spend my free time telling some little character to work and eat and sleep…that’s all shit I have to do!  I want to do things I won’t ever get to do in real life like score a goal in the NHL or car jack a guy after beating a cop to death with a bat.  Perhaps I have said too much.  Check out the review for yourself.

My god I actually managed to get a trade in!  This was a pretty easy one to see.  I like it when the currency settles into a little valley down near a low for the day.  This makes it easy to get into a buy trade with some confidence.  That’s exactly what I saw when I fired up the charts at 5:45pm and immediately got into a buy on the EUR/USD.  I didn’t have to wait long for this one to pay off.  At 5:49 I got a swift little jump upward that went about 3 pips in my favor.  I decided to walk away at that point.  This early in the evening you generally get very small movements in the 5 minute candles.  I didn’t want to stay in this trade just on the hope I would squeeze out another couple of pips.  Besides, my strategy is all about small gains that add up over time.  3 pips is more than enough for a couple of minutes of work.  I know I haven’t traded much at all this year, but I have managed to make pips every time I do.  I can’t wait until school is done so I can do this more often!  I know I have yet to release any kind of strategy guide on how I trade.  I honestly didn’t think school was going to suck so much of my time.  I am in the middle of my 2nd of 3 semesters.  3rd semester is a lot lighter.  Hopefully I can put something together at that point.  I would be happy to see how much money people could make using my strategy!  Here is the chart for today’s trade.

Trade Summary:

Buy EUR/USD - 1.3834
Close Trade - 1.3837
Pips= 3

There have been some big changes in the EUR/USD since my last trade on the 14th of May.  The biggest thing is that the currency pair has risen almost 400 pips!  That kinda sucks because my account is in US dollars.  Oh well.  Thems the breaks!  Once again, I really wish I had the time to be looking into the charts more often.  I have easily proven that I have a method to making money.  I just need the time to act on it more often.  My method isn’t about big gains, but small controlled gains that add up over time.  Once I am a fire fighter I will have more time to dedicate to this business.  This evening I fired up the charts before 6 PM and found a nice little range that seemed fairly predictable.  I was able to spot a small sell trade almost instantly so I didn’t even wait to find an ideal price entry.  I jumped in at 5:46 PM and was out 5:50 PM with a nice little 3 pip gain.  I really don’t have some grand lesson to teach you because this one really didn’t take much work at all.  All I can tell you is that 3 pips doesn’t sound like a big deal.  But, if you are working with $100 pips then you just made $300 bucks in 4 minutes.  That’s not bad at all.  Here are the details.

Trade Summary:

Sell EUR/USD - 1.3989
Close Trade - 1.3986
Pips= 3

I didn’t post anything yesterday because it was my birthday and I was running around having fun.  Today was spent recovering from that fun.  Since I was laying around I figured I might as well check out the charts to see what was going on.  It turns out conditions actually looked good to make a little trade.  I had a very small range in which the EUR/USD pair was moving in.  I got into a sell trade just after 7 PM.  It moved slowly but finally hit a small profit of 3 pips at 7:21 PM.  This was a pretty simple sell trade to get into.  The Euro was coming off a daily high earlier in the day.  When I got into my trade it was right after some upward movement lost momentum.  I figured this currency had a rock in it and it wanted to drop.  I was right so I made money!  Hopefully I can actually get some trades in this month.  I have been trading so rarely that I almost felt like I should remove the “day trader” title on this blog!  Here are the details.

Trade Summary:

Sell EUR/USD - 1.3633
Close Trade - 1.3630
Pips= 3