Daytrader21's Blog

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Trades Update

My current positions are both on the US Dollar long side but I've choose to play this view with some crosses and a commodity currency. In this respect I'm long USD/NOK looking for another marginal new high and I'm also short NZD/USD which has quite a clear structure and point towards more dollar strength.
Mondays are usually very bad at least for my trading so I need to be very careful on how I mange this positions. Usually the market start moving more with my rythme from Tuesday so playing defe…
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USD/NOK big loss

This week wasn't such a great way from my to begin the new week as I got a massive loss on USD/NOK shorts. My account balance went from 150k straight to 80k but manage to get back in profit after I've successfully got in AUD/USD long side which went straight to my target.
Right now I'll try to take it slow and my focus will be to bring my account balance at around 300k until the end of the year and that will be enough to bring my long term account balance back at BE. I would like to enter the ne…
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EUR/JPY & USD/NOK Trade Explanation

Last two trade where long EUR/JPY and short USD/NOK but unfortunately things didn't worked as planned and I was forced to close both of this trades at a loss. At one point on my long EUR/JPY trade (see Figure 1) I was -100 pips in red but I wasn't willing to close it because the 138.00 daily support level was holding the price and there was a high probability that we'll get a minor bounce from there.
Figure 1. EUR/JPY 1h Chart

I decided to play it defensively and take a small loss of only -34 …
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