Dukascopy: ECN forex broker offers best spreads, marketplace and highest liquidity for online forex trading.

Thursday, March 15, 2012

Long NZD/USD March 14, 2012


Long NZD/USD
Entry: 0.81093
Stop loss: 0.8091
Take profit: 0.8147
Result: $318.94 (+900 was possible)

Counter trend trade. Looking for small profit here. Decided to take quick profit since markets are in a downward trend. Looking back I should of left this pair since I was already broke even and could of caught my 1:2 risk to reward afterwards. My bad on this trade was my emotions, just getting out at market order and thinking the market will move in my direction. Remember to execute your plan perfectly.

Sell GPB/USD March 12, 2012


Sell GBP/USD
Entry: 1.56810
Stop loss: 1.5707
Take profit: 1.5619
Result: $-480.62

Didn't follow my edge today and this one got me. Should of traded the resistance on the down trend line. Its alight since its only a small loss. We will live to fight another day.