December 1, 2008
By: Lisa
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Our profit for the day? $64.40.
I want to review our trade action from today...
We were short EUR/USD today -- we went short on 2 lots at market price of 1.2695. Well, the price did go down, but hasn\'t hit our Take Profit target yet. We are going to set a 100 pip trailing stop to minimize our risk, while we let the order ride the down trend as long as possible.
We also went ahead and placed the long positions on USD/CAD at 1.2416. We set a tight stop of 35 pips. In retrospect, that stop was too tight, as the current price is 1.2464, up almost 50 pips. But we were stopped out early for a total profit of $64.40.
Our profit for the day? $64.40. But we also have a floating profit from our open positions of over $2000!
Thats our trade review for today! Check out our Angel Pair Picks to see what we will be trading for tomorrow! Good Trading Guys!
