A blog charting my trades in forex. This is a brand new strategy that I have developed myself. So far it is working well, and people are free to take my suggestions and put them on their own account. Just remember that it would be YOUR decision to do so however!
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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