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Simit Patel Simit Patel is offline

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Badges Showcase - 15 Badges - 320 Points
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IQ Score Boost: +10
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Issue time: 09-12-2010 08:58 PM
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IQ Score Bonus: + 50
Issue time: 09-15-2009 02:23 PM
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About Me

  • About Simit Patel
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  • Last Activity: Yesterday 06:53 AM
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Nuru International
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Nuru International
Gift purchased at 04-23-2011 03:39 PM Donate to Nuru International, a charity dedicated to combating extreme poverty by helping the most impoverished areas build their own self-sustaining economies.


Gift purchased at 04-23-2011 03:39 PM

Kiva Bank Fund
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Nuru International
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Post Thanks / Like

04-19-2014
07:01 AM - Simit Patel clicked Thanks for this post: Bull Put Spread - Options Vid 24 by Tekmnd
04-15-2014
03:32 PM - Power Broker clicked Thanks for this post: Trend Trading Help by Simit Patel
04-09-2014
09:14 AM - Simit Patel clicked Thanks for this post: Psychology... by Tekmnd
04-08-2014
06:54 AM - Simit Patel clicked Thanks for this post: Celgene Analysis by Tekmnd
04-04-2014
01:55 PM - clicked Thanks for this post: Is Gold In an Emerging Demand Zone? by Simit Patel
03-24-2014
08:55 PM - Power Broker clicked Thanks for this post: Scottrade Review by Simit Patel
03-23-2014
12:40 PM - Shantala clicked Thanks for this post: Jack Schwager's Most Important Trading Lessons by Simit Patel
12:27 PM - Shantala clicked Thanks for this post: Bitcoin Nearing End of Triangle Pattern -- Breakout Imminent by Simit Patel
03-21-2014
04:58 PM - Simit Patel clicked Thanks for this post: Study groups by supertramp
03-20-2014
07:32 PM - clicked Thanks for this post: What time of day to trade? by Simit Patel
03-17-2014
11:56 AM - fxvictorys clicked Thanks for this post: Daily Forex Price Action Review - March 17, 2014 by Simit Patel
03-13-2014
03:37 PM - clicked Thanks for this post: Daily Forex Price Action Review - March 13, 2014 by Simit Patel
03-11-2014
12:23 PM - SeaSide clicked Thanks for this post: Can you become a good trader without fundamentals by Simit Patel
03-09-2014
04:32 PM - clicked Thanks for this post: confirmation of uptrend after retrace by Simit Patel
03-08-2014
09:09 PM - rebecca123 clicked Thanks for this post: confirmation of uptrend after retrace by Simit Patel
03-05-2014
06:05 PM - Simit Patel clicked Thanks for this post: Large Bid/Ask candlestick differences by DREBG
01:04 PM - Boldenberg clicked Thanks for this post: [text] Russia is Bluffing, They are Not Going to Dump the Dollar | Marc to Market by Simit Patel
03-04-2014
01:06 PM - Boldenberg clicked Thanks for this post: Uranium ETF Crosses Above 50 SMA on Weekly Chart for First Time Since Fukushima by Simit Patel
12:27 AM - clicked Thanks for this post: Silver Snowball Review by Simit Patel
02-26-2014
05:23 AM - Simit Patel clicked Thanks for this post: Very Blonde Trading System (EA) by Abhinav Asthana

Blog

Latest Blog Entry

Posted 04-18-2014 at 09:16 AM by Simit Patel Comments 0
Posted in Uncategorized
I like these kind of setups very much: clear downtrend, confluence of support, key moving average level, at a Fibonacci retracement level, with confirming candlesticks. I'm not in this trade because I'm at max risk capacity already, but I'd be short at 8840, stop at 8872, target profit at 8697. This would setup a reward/risk ratio of over 4:1.


Posted 04-16-2014 at 08:07 AM by Simit Patel Comments 0
Posted in Uncategorized
We're seeing confluence of a 50% Fibonacci retracement level, a 50 simple moving average, and a support level on CADCHF. Three signs gives me the confidence I need to put on a trade, so I'm going long CADCHF. The chart below illustrates my entry, stop, and target profit. The dashed orange line represents at what level I will move my stop to breakeven.


Posted 04-14-2014 at 04:01 PM by Simit Patel Comments 0
Posted in Uncategorized
March was a bit of a rough month of trading for me; I placed 10 trades, had 8 losses, and 2 breakevens.


Overall, this left me down 1.71% in March.


Factoring in a few extra losses I've had in April thus far, and I'm down -2.05% year to date. I think that's manageable, though obviously...

Posted 04-10-2014 at 08:19 AM by Simit Patel Comments 2
Posted in Uncategorized
My order yesterday to go long EURJPY hasn't gotten filled yet, but I'm seeing another good opportunity on USDJPY. Building a position to ride a big trend in JPY is something I'm very interested in, and so I'm happy to take long USDJPY setups as they appear. The chart below illustrates the order I just put on.


If we do reach my profit target above 105, I'll probably only take half off, and leave...

Posted 04-09-2014 at 09:09 AM by Simit Patel Comments 1
Posted in Uncategorized
Going long this pair at 1.9230, stop at 1.9130, target profit of 2.0240. Long wick candles and a recent pattern of lower highs in formation leave me sufficiently bullish; the high reward/risk gets me interested in putting on a trade.

Recent Comments
I am also long that...
Posted 04-12-2014 at 02:06 AM by hektor hektor is offline
Agree
maybe...
Posted 04-10-2014 at 09:38 PM by x3mtrading x3mtrading is offline
LONG JPY?? Those would...
Posted 04-10-2014 at 10:12 AM by DREBG DREBG is offline
i took half my position...
Posted 04-04-2014 at 08:41 AM by Simit Patel Simit Patel is offline
Sounds like a plan....
Posted 03-30-2014 at 03:19 PM by LitheInvestor LitheInvestor is offline

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