Aug 7, 2012: NZD Trade

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The thoughts and techniques of trading, as learned through a student. Currently only trading currencies:

Welcome! This is my 2012-2013 daily journal/blog to see if, and to what extent, trading can really be done for the average Joe; Without the fancy automated trading systems, spending thousands of dollars on books and seminars, and quad monitor business. Everything I have learned is through the internet and free e-books.

Link to Live trading account:

All equity charts are presented using Charles Schwab's Street Smart Pro. All forex charts are presented using Oanda's Metatrader 4 Java edition.

The following are my most recommended (and lengthy) posts:

Reading and using the Metatrader 4 platform:
Part 1 part 2
The beginnings of analysis
Compilation of Bearish Reversal candlestick patterns
Compilation of Bullish Reversal candle stick patterns
Blog list for the year

This is meant to be a learning experience above all. If you have a question, ask! Ask me anything

August 8, 2012

To be honest I’m not sure why I stepped into this trade. I’m looking at the chart and the target price doesn’t seem that far away considering the congestion zone. Nevertheless, I stepped into it, and have prices set up.