First order of the week/Monday.
Order set at 133.270 with 10 pip stop at 133.370.
Will see how it goes. Last week was quite good overall, we made some hefty profits.
Order set at 133.270 with 10 pip stop at 133.370.
Will see how it goes. Last week was quite good overall, we made some hefty profits.
Trade active
Got in.Note
Good development overall. Running in profit for now.Note
Not perfect development, but not bad.Note
1:1 reached on this quick move to the downside.Then we broke previous swing, thus we moved stop to 133.290 to lock profits.
Now price pulled back a bit. All good.
This is a perfect example of why I like taking 50% of a trade at 1:1. Once price taps 1:1 and then turns around - psychologically I feel completely neutral as I am already protected and risk is removed. In case it does turn around and taps me out I still make +0.35. If I don't do that - then my 'running profit' of +1.2 transforms into -0.3, which feels much worse. On the other hand, if it goes to profit without taking 1/2 off, I make full +2. But if I do take 1:1 and it goes to profit, I 'only' make +1.5. But what feels worse, making 1.5 instead of 2, or having the good analysis work out for the initial move in your favor and then tap an unnecessary loss? No brainer deal for me.
Trade closed: stop reached
Hit stop at 133.298 (a bit of slippage).+0.32 for a trade. Not a bad start for the week.
Lightwork Trading
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Lightwork Trading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.