First day of keeping a journal, Monday August 6, 2012

Hi Journal,

This is the very first day of our acquaintance with each other. I will be updating you on every trading day. Since today happens to be a Monday, the first trading day of the week, therefore I refrain from making any trading today. I will be actively trading from tomorrow.

Although looking at the long time frame charts, the EUR/USD pair seems to be in a sinking mood. Though do not know if the market will continue its sinking mode all the week. Therefore, I closed my short deal trailing from the last week with a 11$ profit. For the rest, we can only wait and watch till tomorrow.

To be on a safer side, I have put in limit orders for the pair, which are good till the end of the trading day. Also, as my usual habit, I have put in 2 limit  long orders for both of my favourite commodity currency pairs, Gold and Silver.

My limit orders are as follows:

1. EUR/USD : Long at 1.2199 with stop loss 1.2159 and take profit at 1.2319
1. EUR/USD : Long at 1.2259 with stop loss 1.2219 and take profit at 1.2379
2. XAU/USD : Long at 1588.6 with stop loss 1583.6 and take profit at 1603.6
3. XAU/USD : Long at 1578.6 with stop loss 1573.6and take profit at 1593.6
4. XAG/USD : Long at 27.50 and 27.20 and take profit at 30.0 and a stop loss as per your margin capacity

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