Well, the US trade balance grew to a whopping $68 billion…eh, who cares? Apparently, currency traders don’t! There was a little bit of whipsaw action that brought our short trade to inches from pt1…well, depending on your broker (my account never reached…grrr!)…and we were stopped out. But the good news is that the Greenback strengthened on oil weakness and our long trade triggered.
We hit pt1 and gained just a little bit more on the second half of our position. All in all, we ended the day -5 pips, which makes me wonder…what if I stuck with my usual stop loss of 20 pips on the short trade? We would have positive pips for the day. But the stop was based on potential volatility and potential risk to reward ratio. So it was all good in the hood! On to the next trade!
Short trade:
Lot 1: -30 pips
Lot 2: -30 pips
Total: -60 pips
Long trade:
Lot 1: +20 pips
Lot 2: +35 pips
Total: +55 pips
Day Total: -5 pips
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