Monday, July 13, 2009

Being conservative will lead to less trades

I decided against doing the US/CAD short because the Risk/Reward became skewed. I would have lost at least 30 pips in profit because a large part of the move that would have been profitable, made its move while we waited for its particular 4 Hour bar to close as confirmation.

Ironically, most of the (would be) profit in this trade occurred at the beginning of that bar, but after we failed to close at our pre-determined entry point...the bar before that did not close below 1.1540, but did trade through it.


Here is the
trade as described on Friday...the specs were the same for today.

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