March 2, 2009
By: Ashley
4 wins, 0 losses, and up 3.3%
Hi. It's March 2nd, 2009 and I want to review our trade action...
Well, we passed on the AUD/USD, but we thought you might like to know how our pick turned out. Seems our trading method was right. The pair moved down as predicted. If we had taken the trade, we would have entered the market near 0.6360. Our take profit would have given us 35 pips, and more on the second lot as the price reached as low as 0.6284. This trade would have made us over $1000 on two lots.
The Yen also moved with our trade. We entered at 97.29, and it reached as high as 97.89. We moved our stop slightly into the profit range. Unfortunately, the pair reversed and we were stopped out for about $140 profit. Perhaps we moved our stop too early.
Finally, the USD/CHF also shot up into a nice profit potential of about 55 pips, or about $550 per lot. Once again, the price reversed and we were stopped out for a modest profit of about $180. Sometimes moving the stop loss too early may not be the wisest decision, but sometimes it protects us from losing trades.
Our profit for the day? $322.53. Our current stats for the month of March: 4 wins, 0 losses, and up 3.3% so far. And yes, it is only the first day.
Thats our trade review! Check out our Angel Pair Picks to see what we will be trading for Sunday! Good Trading Guys!
