How did everybody do with this trade?
From the email and Skype ‘thank you’ messages I have been getting it seems like we got a huge range of profits (as usual). The lowest profit was about 30 pips the highest about 170 pips. On a trade like this it all depends on the subtle differences in the way you traded it. I traded this one a little differently and grabbed 109 pips!
I was watching this trade like a hawk because I had nothing better to do toady. Watching the price action I got a feeling that this trade would not actually reverse. So when it eventually hit 70 pips profit I closed the first half but left my stop where it was. From this point if it totally reversed I would have lost around 5 pips (big deal). Having already made profit this week I wasn’t too concerned with a 5 pip loss. So I left my stop at -80 pips instead of moving it to break even. Yeah, I know I always say target 70 on the first half and then stop loss to break even. If you remember last week though I also say that my trading does not have rules only guidelines. 70 on the first half and stop loss to break even is just a guideline and on this trade I decided not to follow.
Anyway I will delve into more detail in the weekly wrap-up video.
Either way this trade was profitable, be it 30 pips or 130 pips profit is always a good thing.
P.S. How did you guys do on the other two trades of the week?