Thursday, March 11, 2010

Difference between a nice trade setup and mixed trade setup

I shorted GBP/USD at GMT6:49 after all signals confirming downtrend.
D1: Downtrend (SAR ignored)
H4: Downtrend
H1: Downtrend
EP: 1.4961
SL: 1.5010 (49 pips)
PT: 1.4900 (61 pips)
It hit profit target an hour later. This trade contributed 6% gain to my portfolio.

Second trade, shorted EUR/USD at GMT7.17 even though signals are rather mixed.
D1: EMA (downtrend), MACD & ADX (uptrend)
H4: EMA (sideway), MACD & ADX (downtrend)
H1: Downtrend
EP: 1.3575
SL: 1.3615 (40 pips)
PT: 1.3525 (50 pips)
However it seems to be reversing after an hour and I closed it manually with 14 pips gain. Although I should have avoided the trade initially as the signal were rather mixed.

Portfolio: -56%.

Cheers.

No comments:

Economic Calender

BBC News | Business | Economy | World Edition