Tuesday, May 19, 2015

Trade Update and completion

The other day I saw that the EUR/USD was near resistance from mid February and reversing, so I took a position short and placed my stop above the highs for a quick stop out if I was wrong. Currently sitting @ +200 pips. I've moved my stop to break even plus a few pips. If this trade were larger I would probably just take a part of the position off for a little profit, but it's rather small so it will either hit my take profit or stop me out at break even. Here is the chart.

















By the way I have also found a rather sweet website for free advanced charts. It's kinda like the facebook of Trading. Very cool, check out Tradingview.com and see what I'm talking about!

UPDATE 5.20.2015




I looked at the chart and was like "Well, what's a little bit more profit really going to benefit me in contrast to risking no profit at all? Technically the floor was hit and I didn't set my profit target according to the more recent area." So I took profits. Never mind the box on the left chart, that was just for me to see how price behaved around the zone. Could have had a few martingale winners.

UPDATE 5.21.2015

Initial target was hit. The orange rectangles are from a new tool I found last night that allow you to draw zones and get alerts when price is near them. May come in handy so I'm trying it out.

No comments:

Post a Comment