So late last night, there were two trades that opened - one on the GBUSD and one on the USDCHF.
The GBPUSD was a sell order at 1.59003
The USDCHF was a buy order at 0.90856
So far they are both in profit, and what's more important is that I have moved the stop loss to break even. This is something that I will be doing more and more of - moving to breakeven as soon as possible. What this will ensure, is that I will very rarely have a losing trade.
Just a bit of commentary on the trades as they stand -
GPBUSD I am up about 50 pips os far, and it is reaching new lows over the past. It has hit some major support levels, so I will monitor the trade to see whether I will get out or not - if it were to break the resistance, then it could signal a very nice profit! I have locked in 25 pips profit on this trade.
USDCHF - Nearing it's high from September, and I am already in proift by about 100 pips. Again, there are some major resistance levels which will need to be monitored. I have locked in 50 pips aleready on this trade, so regardless of what happens, I am guaranteed a proift which is great!
If for nothing else, this does make the system look better - the more winning trades, the better (but I guess that kind of goes without saying!
What is really heartening about this though, is that in the very very choppy market we have experienced lately, we have not been in it. This is such a major factor - that if you do not knwo how to proift in a market - DON'T GET IN! There are always going to be trades in the market place, so why take rubbish trades??
Anyways- happy trading, and I will keep you posted on how the trades pan out!
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