Monday Trade Stopped

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Last week, I did a double stack on the Monday Trade, targeting both the Daily Pivot and the Weekly Pivot.  Both of them reached their profit targets.

This week, my double stack wasn’t so fortunate.  As you can see from the chart to the left, a couple of my orders got executed then the GBPCHF proceeded to tank.

I should have exited after the pair dropped 20-50 pips, but I let it drop about 200 pips before I finally closed the two positions.  This was against the rules of this trade and I paid the price.

The result was a -9.2% loss in the account.  I’m not too disappointed about the loss, I just won’t do it next time.

If you noticed however, the result of this drop set up a Counter Trend Trade, so I reloaded and took the trade.  I still have my Monday Trade stack to the Weekly Pivot in place, but I canceled all of the Monday Trade open orders that targeted the Daily Pivot.  This week is a nail biter, so stay tuned!

If you enjoyed this article, you might also like:

1. The Monday Trade Double Down
2. Monday Trade For This Week
3. The Monday Trade…On Wednesday?
4. This Week’s Monday Trade
5. The Monday Trade Strikes Again