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1/5/08 EURCAD Trade

Written by Hugh, on January 5th, 2009

Short 1 (100) @ 6616
Stop @ 6885 (-269)
Target @ 6075 (+541)

Support level break of 6726, nice bear candle.

Click above for larger image

Click above for larger image

Stop moved to 6611 (+5)
Stop moved to 6222 (+394)

I moved the stop in really tight to protect profit because I was going to sleep.  In hindsight I should have given it a little more room to breathe but I don’t mind taking the profit off the table.  I could always re-enter.  It ended up hitting my inital target after I exited.  I’ll take 394 pips any day of the week.




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Category: My Trading   Tags: ,

This post was written by . His goal is to become a professional trader.
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Thomas

Of couse this is a great trade and seems well thought out. It is hard to see the chart with the black background. How/Why did you decide to use that support area? How did you choose your target? When did you move your first stop for +5?

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james

Good management Hugh - it makes for a sounder sleep too!

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Cindy

You are really starting to get the hang of this. It is fun to see how much you have grown as a trader in the last two months. GREAT JOB!

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Joan

Beautiful Trade with an excellent risk reward. As I mentioned, you really have a good eye for this type of trade. Do you money management rules allow you to open up are larger lot size? Well done!

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