GOLD trade update

Fantastic Trade on GOLD.

As expected it reached 1200.00 next support level is at 1150.00 I don't have any trades right now.

Here is the update:

Closed Transactions:

Ticket

Open Time

Type

Size

Item

Price

S / L

T / P

Close Time

Price

Commission

Taxes

Swap

Profit

116223772

2013.06.26 03:17

sell

0.05

gold

1258.69

1262.61

1200.00

2013.06.27 20:03

1200.00

0.00

0.00

0.00

293.45

Trades for 27 June 2013

This trade is based on Strategy 3.

My aim is to earn 40 pips.

Money Management is very important. Don't risk more than 1%.

Rules:

1. Place both buy stop & sell stop orders
2. TP 40 pips & SL 80 pips
3. If one of the orders gets triggered closes with profit then delete the opposite order.
4. If one orders gets triggered the base line becomes your new opposite order - very important - Say your buy stop order triggered then your new sell stop order is at the base line.

Result:
1. You will earn 40 pips & delete all pending orders.
2. You will lose 80 pips one & make 40 pips on the other = -40 pips.
3. If your sell goes against you & buy stop triggers & then turns back (without hitting TP), then you sell order is already present. So if your sell order reaches TP then Buy will be on lose = -40.
4. Either you will earn 40 pips or lose 40 pips.

Trades must expire at midnight.

How to place Pending Orders

This is how to place pending orders in Meta trader - 4

1. Right click on the chart and select 'Trading' then select New order

2. In the New order box, select 'Pending Order'

3. There you can select 'Buy Stop' or 'Sell Stop'

Update on 26 June 2013

EUR/JPY closed with 40 pips in profit.
GOLD is doing great but currently it is testing the support area at 1223.71. Fingers crossed. My TP is at 1200.00

GOLD Update

How many of you took advantage of my yesterday's post on GOLD?

I hope you are in good profit today like I do.

Trades for 26 June 2013

This trade is based on Strategy 3.

My aim is to earn 40 pips.
Rules:

1. If sell stop triggered at 127.30 then TP = 126.90 & SL=128.10
2. If the trade goes against you then your Buy order triggers at 127.70 TP= 128.10 & SL = 126.90

If you sell closes with profit then delete the buy stop order.
Buy stop will only work if the price goes against you. Then your sell will close at 80 pips lose & buy will close at 40 pips profit.

Result:
1. You will earn 40 pips & delete all pending orders.
2. You will lose 80 pips on sell & make 40 pips on buy = -40 pips.
3. If your sell goes against you & buy stop triggers & then turns back (without hitting TP), then you sell order is already present. So if your sell order reaches TP then Buy will be on lose = -40.
4. Either you will earn 40 pips or lose.

Trades for 25 June 2013

There is not enough volume in the market.
Trade carefully.

TP & SL = 20 pips.

Gold is also ranging. Expect a Huge Momentum candle soon either up or down. Sell below 1260.00 & buy above 1305.00 (Please trade with caution - THIS IS GOLD)

Trades for 24 June 2013

I haven't traded on Thursday & Friday because of volatile market.
TP/SL = 20 pips

Trades for 19 June 2013

As requested by readers, I will add some explanation on my selection trades.

AUD/NZD

Buy stop @ 1.1870
Sell stop @ 1.1830
Please trade carefully as there is a support line at 1.1815.

CAD/CHF

Buy stop @ 0.9010
Sell stop @ 0.8970
Most of the brokers have spread above 5 pips for this pair. Unless the spread is below 5 pips please don't trade this pair. You can look for 50 pips TP.

EUR/CAD

Buy stop @ 1.3710
Sell stop @ 1.3660
EUR/CAD is currently on uptrend but, it is testing resistance on weekly chart. You can look for 50 pips TP.

EUR/GBP

Buy stop @ 0.8580
Sell stop @ 0.8550
You can look for 30 pips TP. Please note this pair is testing major resistance level.

EUR/USD

Buy stop @ 1.3410
Sell stop @ 1.3380
You can look for 30 pips TP. Please note this pair is testing resistance at 1.3415.

GBP/JPY

Buy stop @ 149.50
Sell stop @ 148.57
You can look for 50 pips TP. Please note this pair is heavily ranging.

GBP/USD

Buy stop @ 1.5660
Sell stop @ 1.5610
You can look for 30 pips TP.

NZD/JPY

Buy stop @ 76.40
Sell stop @ 75.85
Most of the brokers have spread above 5 pips for this pair. Unless the spread is below 5 pips please don't trade this pair. You can look for 50 pips TP.

USD/CHF

Buy stop @ 0.9210
Sell stop @ 0.9170
You can look for 30 pips TP.

Trades for 18 June 2013

I like to trade breakout of range boundaries.
I prefer to have conservative TP & SL of 30 pips.

It seems today we will have very good trades.
Good luck

Trades for 17 June 2013

TP/SL - 20/20 pips

Today's trading volume is very low. So trade carefully.

Trades 14 June 2013

TP/SL - 30 pips

Trades for 13 June 2013

TP/SL = 30 pips.

Trades for 12 June 2013

Yesterday I had a great trading day. I hope will continue to gain more pips.

TP / SL = 30 pips