Out of trade

Made a small $130 profit on the EUR/USD...half of my trade. As Trader Outlook (Bob Iaacino) does, when a trade hits its first profit point, half is sold (or covered,) while you move your stop to b/e.

The idea is to have a free trade while you look for the second (higher) profit point. This way you lock in a profit and then play with house money, for lack of a better expression. In this case the second half of the trade ended up at where I went long ($0). You should try these guys for $7...the daily seminars alone teach you more about Forex more then you could ever hope to learn from a book (they also share their trades with you before they occur.)