Wednesday, September 9, 2009

Entered a "Risk Trade"

As per Bob Iaccino and Trader Outlook, I entered a trade going long 1 Lot the EUR/YEN after a retracement (because the trade hit while I was sleeping.) Ironically, had I been awake when the close of the 4 hour bar occurred, I would be down...now I am up, because I bought on consolidation. Details coming...

The term risk trade applies to any trade that is not long the Dollar or Yen, which are considered safe havens. As Bob likes to call it, "you're building a position."

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