The Trade: GBP/CHF Long
Reason/Setup:
Entered this trade based on the Elite and OzFX setups, both on 1 hour charts. On the Elite setup, I was late in entering the trade. Target was placed 30 pips away, and I did not have a stop.
On the OzFX setup, I was late too. This was just to confirm the entry based on the Elite setup. The trend seem to be valid and hence I took the trade.
Trade Details:
- Date Entered: April 16 2008, 8:25am
- Entry: 1.97437
- Lots: 10
- Stop Loss: No stop loss.
- Target: 1.97737
- Date Closed: April 17 2008, 2:45am
- Result: Pair hit target point.
- Total Pips: +300
- Profit/Loss: $327.12
- Rating: 3
This was actually a poor trade to enter. The pair moved sideways for many hours before breaking out to the upside. And of course since I was just hanging on to this trade and it didnt move in my direction when I entered, my target was just 30 pips, and I missed a majority of the up move. An also not having a stop loss saved me in this case, as I could have been easily stopped while the pair was trading sideways.
0 comments:
Post a Comment