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I took a small long position in EURUSD @ 1.1963 on 6/7/10.  It is only 1 lot (worth 100k), which is considered a small position in Forex.

Now I have over 400+ pips in profits on paper now.  I was aiming for a 500 pip move here.   And the initial stop loss was set @ 1.1877,  which is less then 100 pips.   So the risk reward ratio is very good here.  Now I am trailing it.  So the profits are almost locked since Forex rarely has gap ups/downs.  That is one of the reasons that I only swing trade Forex in a regular account.  

Here is the trade.  

See my post about this trade on StockTwits here.  Look at the time stamp of that post.  It was posted close to real time.

If you do not trade Forex,  a 500 pip move for a 1 lot position is worth about 5k profits in USD.

Do you remember the post about my first forex position? Technically, it is a profitable position.

The US dollars has been strengthening recently. All major pairs have moved quite a bit except USD/CAD. I think it might try to catch up with the other guys. So I will open a long USD position in this pair. This time, no printed money is involved. It is a real electronic position. I promise :)

EUR/USD Daily (Click on the image to have a better view)

USD/JPY Daily

USD/CAD Daily

I just started trading Forex.  Let’s learn it together.

Today, the stock market was closed at 1pm. It was a volatile day and good for traders of both directions. As we can see, if you went long at the opening bell, you would make some money. You also could make money from the short side like I did. The market was better than I expected. I thought it would be off 300-400 points due to the Dubai news.

I am starting my Forex trading adventure on the side. I just had my first currency trade today. It was a bit unconventional since it was real money instead of a virtual postion like we do in a trading account. I had 140,000 JPY (Japanese Yen) I brought from Japan a few years ago.

JPY has moved up to a 14 year high, which I do not think is sustainable. So I bought some US dollars with that money at my bank, which actually ripped me off @1:91. And we all know the closing price of the USD/JPY pair is 86.467 as of 11/27/2009.

My Forex adventure is just for fun and it is going to be swing trading only.  Although I do not use leverage in stock trading.  I will in Forex. Interactive brokers will be my broker and platform.

USD/JPY