February 18, 2009
By: Lisa
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Hi everyone -- Let's review our trade action from today...
We were short USD/JPY -- As we told you yesterday, our trading method told us not to move our stop loss. We also told you that we moved it anyway, as we like to lock in profits sometimes, rather than risking a loss. Well, we got stopped out at 92.15 for a profit of $108.52. Of course, after the small dip that stopped us out, the price climbed up as high as 93.94. It is currently sitting at 93.65, so by moving our stop early, we locked in our profits, but missed out on another 150 pips. If you are still in the same trade that we took, now would be the time to move the stop. We suggest moving the stop to 93.20. This will lock in some nice profits (about 110 pips from our initial trade recommendation), and still give some breathing room.
That was our only trade for the day, so we don't have any positions still open at the moment.
Our profit for the day? $108.52. We may not have huge profits every day, and some days we even lose money, but so far for the month of February, we are up 59.8% on our trades. When was the last time you earned almost 60% interest on your money in under three weeks? [wink]
Thats our trade review for today! Check out our Angel Pair Picks to see what we will be trading for tomorrow!
