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Aaaand I’m out! Thanks to NFP-related volatility, my adjusted stop loss got hit and took me out with a total gain of +415 pips. Yasss!!!

If you’re just tuning in, you should know that I’ve been buying EUR/USD for almost a month now, starting with rising 0.5% of my account at 1.1475 and then adding another position at 1.1710 when the pair extended its uptrend against the Greenback.

Then, last week I told you guys that I’m adjusting my stops ahead of the NFP. I raised my stops to 1.1750 and raised it even further to 1.1800 hours before the release.

See, I did a little digging and found out that EUR/USD’s NFP candles tend to move by only 40-55 pips, so I figured a 75-pip SL (from the 1.1870-ish top) is good enough to withstand the initial volatility.

EUR/USD 1-hour Forex Chart
EUR/USD 1-hour Forex Chart

And good thing I moved the stops! Seems like a relatively strong NFP was all the dollar bulls needed to push EUR/USD lower. The pair would have hit my 1.1750 initial SL before showing a bit of bounce!

This left me with around +325 pips on my first position and +90 pips on my second position. Here are the deets:

Closed all positions at 1.1800 for a total of +415 pips (+0.83%) with a 1.66:1 reward-to-risk ratio.

Not exactly the move to 1.2000 that I was aiming for but still, not bad for a couple of weeks’ worth of trades, huh?

One thing I could’ve done better is to add more positions at better prices. As you can see, I mostly used buy stops as entries.

I could have maximized the uptrend by entering at rising trend line retests especially since there was no big catalyst that threatened the general trend at the time. I could have ended up with more pips!

But, hey, a win is still a win! I’m now keeping my eyes peeled for the next opportunity. Got any major dollar setups that are catching your attention these days?

Huck's Signature

See also:
My Q4 2016 Forex Trade Review and Reflections
HLHB System’s 2016 Performance Summary

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