30 July 2008

GBP/USD Buy 2 Lots @ 1.9818 + 5 pips profit

Hello again my friends,

Today's tradeS were a little tricky because there were 2 taken by me and one of them is still open and I'll explain why:

First is GBP/USD:

Because of the pattern that formed at entry point I decided to use only a 5 pips profit target for this pair.

9.30AM GMT: BUY 2 lots @ 1.9818
Target hit in less than 5 minutes: 1.9823 (than price retraced a lot as I thought)
Profit from this pair: 5 pips x 2 lots x $10 per pip = $100

Second pair is USD/JPY (tricky one):

Well, this pair gave a perfect signal, BUT the price went a little crazy.
The important thing is that the SL was never reached. I was not lucky to have 0 spread today and I had 1 and price bounced from my target of 5 pips so I decided if the price won't hit my SL to stay in market until my target is hit and right now I'm open with SELL order with 2 lots since 107.80

So target is: 107.75 and I'am pretty sure will be hit soon because of the momentum that gave Yen power to drag all pairs down.

I will get back with screenshot from profit-moment.

Happy PIPpin' !

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