jueves, 2 de marzo de 2017

Short EURUSD +44 pips

The amount of pips doesn't always translate well, if you scale out of the position in a trade, these were 20 and 24, which is the equivalent of 22 pips for the profit, so it's hard to make projections sometimes with these numbers.

Anyway, I was still looking for a short on Euro as I had placed an order the previous day but did not get triggered. Fortunately, there was a new opportunity in this currency once again. 

Once again, I placed my order as a sell limit at night and went to sleep.

Sell at: 1.0539, stop loss 1.0569, looking for 1.0490. 


By the time I got up, euro had already moved 20 pips and taken an old low in the lower time frames. I decided to take half of my position off here and let the rest run.

Dollar was pulling back a bit at this time and euro was taking its time to drop so I decided to look for 1.0495 instead. It dropped to 1.0496 and retraced. I had moved my stop to give me 24 pips to 1.0515, and that got tagged. I was up to 63 pips at one point so it is a bit frustrating see it all go back but I'm still learning and seeing things for myself will certainly help.

I've taken 4 trades since I opened this account on the 14th of February, for a net of 79 pips, and 2.63% gain in two weeks. I'm well within my objective of 6% per month to duplicate my account yearly and will be looking to go live in April.

Next up in my analysis: see how far back I get in retracements to see if I can place smaller stops and go bigger with lot size for the same risk.

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