Wednesday, July 9, 2008

Trade Adjustment: NZD/USD and EUR/AUD

Update 3:
Both NZD/USD and EUR/AUD SL moved to breakeven +70 pips when pips gained for each reached above 100 pips. +140 pips are in the bank! Yay!

Update 2:
NZD/USD SL moved to breakeven +50 pips when pips gained reached +95 pips. T1 almost achieved.

EUR/AUD SL moved to breakeven +50 pips when pips gained reached +82 pips. T1 still a bit of a distant away, but we might get there.

Lesson: NEVER LET A WINNER TURN INTO A LOSER!

Update 1:
NZD/USD: SL moved to breakeven + 5. This is where I usually throw away good trades, but well, I'd long again in case my SL is hit.

NZD/USD :
Long @ 0.7506
SL @ 0.7511
TP @ 0.7896

Most likely will close trade when T1 is reached at 0.7636.

3 comments:

darrell said...

I jumped in @ .6492 and moved my sl to .6459. Might be a tad close for this pair, but I learning and I like wins no matter the size. my pip size is one mini and I scalped 20 pips for 2 minis. smiling big.. I have been pasting s/r lines on my charts for about three weeks now. Yes, proact charts are full of indicators, fixed no adjustment, they will eat my pips if I rely on them completely.

Thanks, ;=]

darrell

Bill said...

Yeah, great to know you go on the ride in time too :) A win is a win! And now that you have already booked your minimum SL (+33 pips), let the trade ride out... continue moving your stops closer as you gain more pips.

But just a word of caution, I am not so good myself in these trades (not yet...) So take my calls with a big pinch of salt!

Cheers!

darrell said...

I appreciate you sharing what you see. my account increased 45 pips on euraud. I had to step away for an hour and returned to see the retrace. It was a fun ride.

thanks
Darrell