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Trades - July 11th '08

Phil Newton's picture
Posted July 11th, 2008 by Phil Newton

Hi folks,

All I can say is I really needed this mentally. I made $13,565 today and although from a dollar point of view very profitable mentally this has done me more good that anything else I could have done to get me back on track.

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well done!!!

tagostin's picture
On July 11th, 2008 tagostin says:

Phil excellent vids keep it up, i also caught 100 pips on euro breakout clean fast trade.

USDCHF Question

yanivbal's picture
On July 12th, 2008 yanivbal says:

Hi Phil,

Excellent trades as always.

I got just one question, you took the trade in the USDCHF despite the price action was in the middile of the range of the previous days (price was not near the support or resistence).

Can you please explain why did you tool that trade?

thx !

Interesting

DIMPLES08's picture
On July 31st, 2008 DIMPLES08 says:

phil It would be interesting to hear your views on the above Q.

 

Thanks Loads as Always

 

S

Why did I take that...

Phil Newton's picture
On July 31st, 2008 Phil Newton says:

Hi

I did reply to this via email as at the time as was taking a few days break... ive just dug out the reply I sent over the emails...

The quick answer for you is that the other USD pairs were setting up in ideal locations and while trading a range in the middle of the previous days high low range is not the best location for me normally the other USD crosses were perfect for me and moved all very nicely... a little bit of judgment in this case and is not the normal situation

... So in this case I used a little bit of dsicretion to take teh additional trade on bu looking at all the other USD cross rates into consideration... everything else was looking great

Enjoy

Phil