Wednesday, June 11, 2008

Wednesday 6/11/08 Update

Minor Hit


I took a small hit today. I actually had a feeling it wouldn't be the best trade, but again, rules are rules and I got in. Next bar I was out with a 21 pip loss per lot.


Today's trades:


2:15am EST- There was a moving average crossover for a short trade. RSI was less than 50, stochastics were trending down, and MACD went from positive to negative. This was a valid entry. The entry was at the close of the candle at 1.9534 with a stop at the most recent swing high at 1.9555. Since I was 34 pips away from the nearest 50 or 00 level, I decided to put my target at 1.9500.
Entry: Short at 1.9534

Stop: 1.9555

Initial Target: 1.9500

2:30am EST- Unfortunately I was stopped out of my trade.

4:15am EST- There was a signal here, but it was right before news so I did not enter.


Results: 1 trade....-21 pips...3 lots.....-63 pips


Here is what it looked like.


Talk to you soon.


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