About Pick of the Day

Pick of the Day Author

Each day, I will try to find what I believe is the best looking short term trade setup for the upcoming trading day or week. If you're a forex newbie, it can be tricky in the beginning trying to figure out how to look at charts and draw lines. My goal is help you understand the psychology of price movements so you can learn to analyze your own charts and trade on your very own. I will post my ideas and/or reviews through out each session right here, on Twitter and on Facebook.

Read First: My Trading Framework!!

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August 2006

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Trade Review: EUR/JPY

Posted 21:21 31 August 2006 | Comments

In my last pick, we saw the euro quickly rise against the yen, and there was no stopping it! Our short trade was triggered, and we were so close to pt1, but the pair reversed and continued its long term trend. We got closed out at a loss of -20 pips per lot. Grrr!!

Lot 1: -20 pips

Lot 2: -20 pips

Total Pips: -40 pips

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