GBPUSD trading – one win, one loss but no money lost!

Hope you like the title of the post! It’s my attempt at some rhymning!

I hope my chart diagram makes sense below. My strategy now is to trade two lots at the entry price, one has a target of 30 pips. The other has a 60 pip target which, when the first trade hits it’s target moves the stop loss to entry (to hedge from any loss) and then hopes to grab the 60 pips.

Well, the first target was hit for 30 pips.. yay! The second trade still runs but the stop moves to entry. However, the market spiked down to hit my stop as can be seen.. the annoying thing is that it hit it right at the point taking me out for a scratch trade before it’s ascent. If it hadn’t have hit, the 60 pips would be in the bag!

For those who don’t understand the arrows.. green are long (buy) entries and red are short (sell) entries.

Hence, a 30 pip gain today!

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Category: money

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