After a while of not trading, the forex bug got the best of me and I placed a trade late last night before going to bed. I have to admit that the only analysis I had was based on the price of the Euro as I have been watching it each day. I didn’t have a chart to trade on or any technical indicators set up. I basically just put in the trade on the basis that the news between the Euro and the US dollar has been flip flopping either way.
Recently the Euro has been following the performance of the US stock market so I also had yesterday’s rally to go on. My PC is still on the fritz so unfortunately I did not have a stop or limit on when I placed the trade on my iPod. (I know, I know, why don’t I have a seatbelt on?) But I just realized that I can trade on my Mac! Woo hoo! So I am placing a stop at 1.35 which is going to move up every 10 pips. As you can see in the chart I’m not doing so bad! Here’s to restless nights
As usual, I will let you know how the trade goes in the comments. Happy trading!