I placed an order to buy EUR/USD this morning around 8:30 and I just as I was getting ready to update this blog the price shot up. I didn't catch the move, but I am not going to try to chase it and nor should you. My order to buy the pair is still on the table, however I may be cancelling it soon. I am not optimistic about it coming back to me, and where it would be headed should it come back down anyway. I will watch and wait at this point.
I am going to try something new, and specify whether my trades are expected to be short term trades, or whether they are longer term trades. I realize with many people's schedules don't make the really short term trades make sense, so I figure if I specify it on twitter you will know right away whether or not this trade is something you quickly want to take a look at and decide whether it is one you might entertain taking.
With that said, no alert to buy or sell is a recommendation from me to you to buy or sell. It is a record of my personal trades and orders only. The risk of trading Forex must be yours and yours alone!
On that note, my order my friends:
I am not interested in holding this position over the weekend, so I am closing the remaining unit of the EUR/USD short I had working for a nominal profit.
OPEN POSITIONS:
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CIS* Alert Service (C040AS)
Date: Friday September 24, 2010
Action: Order to buy 1 unit EUR/USD @ 1.340
Action: Order to buy 1 unit EUR/USD @ 1.337
Take Profit: 1.3445 and 1.353
Stop Loss: 1.335
CIS* Complimentary Investment Strategy
Ref: tcd
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PENDING ORDERS:
None at this time.
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CLOSED POSITIONS:
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Trade (C038AS) GBP/USD position was closed at our take profit level. :)
Trade (C039AS) EUR/USD position were closed for nominal profit.
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From the Desk of
Aaron Reid
Forex Strategist
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