February 26, 2009
By: Lisa
48 wins, 16 losses, and up 75%.
Hi everyone! It's February 26th, 2009 and I want to review our trade action...
We were short 2 lots on USD/CHF. Our entry price was 1.1680, and as the price fell, our trailing stop of 35 pips followed. The price eventually reversed, and our orders were closed on our stop loss at 1.1631, leading to a profit of over $800.
We also had a long position with GBP/USD. As the price rose, so did our trailing stop, following the price up to 1.4330. Then the pair fell and stopped us out with a profit of over $1,300.
Finally, we were long on EUR/USD as well. Because we trailed a stop on this pair too, we managed to take a profit of over $400, even though the price eventually dropped well below our entry. Sometimes trailing stops knock us out early, before a major move, robbing us of additional profits. Sometimes those trailing stops keep us in the profit range rather than letting us take a loss.
Our profit for the day? $2,602.58. Our current stats for the month? 48 wins, 16 losses, and up 75%.
Thats our trade review! Check out our Angel Pair Picks to see what we will be trading for tomorrow! Good Trading Guys!
