October 6th, 2008
By: Stephanie
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Today is Monday, October 6th, 2008, and time for our Angel Pair Picks!
Our trading method has indicated that there is a high-probability, low-risk trade setup to go short on GBP/USD.
After looking at the chart, we decided to place an order for a short position trade for 2 lots, but as usual, we placed two 1-lot orders. This way we can take profits on half our position and let the other one ride the trend.
We went short at market with an initial stop loss of 1.7508. Our orders filled at 1.7430 and 1.7426. We also set a trailing stop at 100 pips, to protect our profits if it moves in our favor.
Okay, well thats about it for now. Check back tomorrow at PipsAngels.com to see how our trade is making out!
IMPORTANT NOTE: These are not Forex picks nor Forex recommendations. This information is provided for educational and informational purposes only. Use this information at your own risk. You MUST apply your own trading methods and your own opinions to an Angel Pair Pick to determine if a trade should be considered. Also, you do not need to trade all of the Angel Pair Pick pairs, nor should you. There's no need to place more than a few trades on any given day and our recommendation is when you get to 6 open positions, don't add any more trades until one of them is closed out.
Note: Forex, futures, stock, and options trading is not appropriate for everyone. There is a substantial risk of loss associated with trading these markets. Losses can and will occur. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using Angel Pair Picks will generate profits or ensure freedom from losses.
