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April 22, 2010 USDCAD Counter Trend Trade

Written by Hugh, on April 22nd, 2010

As I mentioned in the last post, a new Counter Trend Trade (CTT) was triggered, so I set up a new stack of trades.  Here is the 30 minute chart:

Click above to enlarge

Here is the closeup on the 5 minute chart:

Currency Trading

Click above to enlarge

As you can see, price proceeded to hit the target after my exit.  This has been my primary issue with these trades thus far…exiting too early.  I might have to learn how to be a little more “Zen” about it and let it take it’s course.  Another way that I could do it is to take half of the positions off the table and let the other positions take their course.  That way, there will be less stress involved.

The total gain on this trade was +0.8%.




If you enjoyed this article, you might also like:

  1. April 19, 2010 USDCAD Counter Trend Trade
  2. April 18, 2010 – GBPCHF Trade
  3. April 20, 2010 – GBPJPY CT Trade
  4. April 13, 2010 – GBPCHF Trade
  5. April 12, 2010 – GBPCHF Trade



Category: My Trading   Tags: ,

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

Hi Hugh, I was wondering what pivot indicator you use, it looks like it draws the previous days levels as well. Does it do weekly and monthly pivots. Would you be able to share this indicator. Thanks, Mick

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Hugh

Hi Mick,Of course, here you go:http://www.tradingheroes.com/my-pivot-point-indicatorIt does weekly and monthly, among other things.Thanks for stopping by!Hugh

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