Do It, Invest - investing blog, investment tools, financial analysis, portfolio management. The money road.

Or (if you want) miss-correlations. As all of your guru traders will say, in the forex trading you learn for your lifetime. And when you think you saw them all, something   comes and takes away all your confidence (and hopefully not your profits, especially when you have the risk management tools in place).

What happened? I decided to test today on the MetaTrader 4 (MT4) platform the buy stop and the buy limit orders on the “twister sister” or the GBP/JPY pair. And the results were quite interesting.

So what happened? I placed from the previous day a buy limit order on the GBP/JPY, on the assumption that the yen currency will devaluate a bit whilst the pound will be stable. This was based on the relatively mild-to-bad incoming economic news: the trade balance of Japan was on the larger side of the forecasts, whilst the GBP news (public sector borrowing, retail sales and preliminary mortgage approvals, to name just a few) should have been better. And so they were.

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Lately I have been reading many forex trading books, trying to climb quickly the steep learning curve necessary. Necessary to transform this into a full time occupation. In the beginning I thought it was easy, as most of the beginner traders think. Just read a couple of books and test a bit the platform for trading forex pairs, no matter what it is: Metastock or metatrader or other proprietary platform. They all looked the same and the methods seemed easy. Manage your risk, manage your emotions, play with technical indicators and your life will become soon easy and flowing.

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I tried last week to trade yen against the news. I thought that the news release on China (that exports are much stronger than expected) will actually move the yen a bit upwards versus other currencies, then the Japan currency will resume its decline. In brief, I was arguing that the yen appreciation will last very short.

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Welcome back to my forex trading blog. Or, as one famous trader named his investing book, welcome back to my trading room:))
A few words on the yesterday’s forex blog trade placed. I mentioned that I placed a trade on GBP/JPY by purchasing 0.5 lots at 146.56 on the Nov 25th. Since I bought 0.5 lots, I was expecting the currencies cross exchange rate to increase. The take profit order was placed at 147. Unfortunately for me, I did not place any stop loss. Fortunately for me, the trade was placed on a demo account, which made me bear no losses.

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Did you ever feel the urge to look at a currency chart plotting in relationship to another currency? Well, we at doitinvest.com felt it. Yesterday. And we tried to find a quick and easy solution to analyze it.
And we found a solution, of course, otherwise we would not be writing this investment blog.

So, suppose you want to plot the USD against the Eurofor the last month on a quick-glance graph…and eventually apply lots of extrapolation analysis to it. This seemed a simple idea at the beginning, which doitinvest tried to apply by searching the web for the forex sites.

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