EURCHF update on my trade

Yesterday, I mentioned that I had entered long on the EURCHF at 1.16172. The market initially went my direction hit a high of 1.6235 before retracing. I moved my stop up to entry and it got hit which was a bit unfortunate at the market shot up again and hit a short term high of 1.6278 which is over a 100 pip move. My initial target was 150 points though… anyway, a little disappointing but at least I didn’t make a loss.

The chap from Forex Smarts where I pilfered his system recommended taking 3 profit target, the first one 30 pips, second 60 pip and third 90 pips with a 50 pip stop loss on all 3 positions. If I had been strict with his rules, I would be setting on a cumulative 180 pips from 3 positions!! GRRRR!!!

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Category: Forex trading, money, Trading