February 25, 2009
By: Ashley
42 wins, 16 losses, and up about 70% for February
For the AUD/USD pair, we did pass on the trade, but even if we had placed it, our order wouldn't have triggered. Our entry for the sell stop was below the low for the day, and the price of the pair moved up.
The EUR/USD also made a big upward move. We didn't place this trade either, but if we had, once again our entry point was below the low for the day, so it never would have triggered. Remember, some of our trading methods are based on confirmations of trends, and trading the middle third of the trends.
The USD/JPY pair continued its upward trend. The trade we placed was based on a reversal, and downward movement. Well, the price rose and triggered our stop for a loss of about $1,300.
We went long on GBP/USD expecting it to continue its upward trend. Unfortunately the price fell hard, and our order was stopped out for a loss of almost $2000. Fortunately, our trading methods and money management rules prevented us from losing much more. We will take the losses and move on to more potentially profitable trades.
For the USD/CAD, we passed on this trade. However, had we placed the order, we would have entered at 1.2560. Since the close was down a bit from our entry, we would be carrying a loss of a few pips, but the trade would still be open, and still has the potential to recover and become profitable.
Unfortunately, we had a bad day, but as we keep saying, you can't win them all. Anybody that tells you they win every trade is lying to you. However, even with our losses, our record still stands at 42 wins, 16 losses, and up about 70% for February.
Thats our trade review! Check out our Angel Pair Picks to see what we will be trading for tomorrow! Good Trading Guys!
