Thursday, July 12, 2012

Sell USDCAD

So for the first trade I am entering here, it is starting off with a small 0.01 lot (10 cents per pip). It is a sell on the USDCAD. I took the trade at 1.01828 Take profit is at 1.01001 62 pips Stop loss is set at 1.02460 84 pips. I am in the process of setting up my money manaagement tool (it does take some time to do) and once up and running, the lot sizes will change trade to trade. I would recommend that if you want to follow, you trade the same lot sizes to ensure that you make a profit, the take profit and stop loss is movable as you see fit, although there is some science in it so you may want to set them the same, although I am sure that the profit and loss will be different.

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