My First Stack

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This was my first attempt to stack positions to maximize a move.

First position was:

Short 1 (100) GBPCHF @ 6108
Stop @ 6410 (-302)
Target @ 5485 (+623) – a previous support level

Then when I was up 329 pips, I entered the second position:

Short 1 (100) @ 5779
Stop @ 6103 (-324)
Target @ 5485 (+294)

Before I went to sleep, I moved the stop on the first position down to 6103 (+5).  The chart also shows ideal entries.

Click above for larger image

I closed the first position at +179 pips and the second at -152 pips for a grand total of +27 pips.

This wasn’t a good trade.  Even though it was net profitable, I entered both positions way too late.  I think I was still steaming from the dumbass EURUSD trades I did earlier in the night.  Given that situation however I think it was better for my sanity to just get out with a small profit than to let it run into another loss.  It turned out to be a good move.

If you enjoyed this article, you might also like:

1. 1/6/08 EURGBP Trade
2. An Experiment
3. 12/17/08 GBPCHF Trade
4. 12/19/08 GBPJPY
5. Rockstar Trade