Thursday, November 7, 2013

Forex Trade #2.2

So, I finally came off my USD/CHF position today. The bulk of my position was entered at 0.8990 and I took profits at 0.9103, which clocks in a very nice and cool 113 pips of profit.

Translating that into profit margin, it's roughly about 50%, including bad bets and holding costs, which isn't all too shabby.

I'm now currently in very small and safe bets with the technicals on my side for shorts in both NZD/CHF and USD/CAD. Both of them have relatively clean charts, no crazy volatility as well as pretty clear slow stoch indicators which I am now strongly favouring.

I'll be trying to keep my head up and be aware of the next few days. It's going to be a choppy ride with tons of event risk, as well as tons of moves to be made. I'm hoping the dollar rallies and I'll hop back into the Swissie for another ramp up. If things goes south, I'm already in a nice position to ride the USD/CAD down deep and low.

Gold seems to be holding up around the 1310 mark, but I suppose if the dollar rallies on all these events, gold would surely be pressured downwards. Hopefully, if that really does pan out, what would also follow in a dollar slump, as well as a nice gold rally. One can only hope, right?

Hmmm.... If I can get in when gold bottoms, and it rallies into a property market crash, I could be well sitting pretty very soon. Well, who knows, the future is interesting. I'm glad I'm back on track in getting a profitable system up and running. Hopefully, I have much more good news and great profits to report in the coming weeks.

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