20 February 2008

EUR/USD @ 1.4710 Sell

Short position opened @ 1.4710 @ 07.49 GMT (8 lots)
No stop loss.

Signal was triggered, alarm was on so I entered earlier than usually.
But as you will see it was all I needed because EUR/USD was heading 1.4700 so I took that level as first support (because EUR/USD is always finding support around round numbers .00 .50), it was a little risky because I was only 10 pips away from .00 level (where it can jump). So I can't profit from 10 pips and I entered with 8 lots for 7 pips profit.

I opened the position at 07.49 GMT with 8 lots for 7 pips profit. Why 7 pips ? Because 1.4710 - 7 pips = 1.4703 minus spread 0-1-2 it keep me relaxed because the BID price won't hit 1.4700 on my order.

@ 07.59 GMT EUR/USD Exit @ 1.4703

7 pips x 8 lots x 10 usd/pip = $560 profit for today. If you want to be smarter than me you would enter with a 5 pip profit target and you would have $400 profit in less time.

I started the recording at 07.55 GMT because I didn't have Camtasia configured at that moment.

You will see in the video bellow the trade that took 10 minutes:

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