Entered the trade after price broke below PWP and one entire candle body was below PWP. HMA tomato but GRBB did not have thick red bars at point of entry, ie. Should not have entered.
Price range narrowed when traded volume reduced for 2 days. I did not stick to shifting the stops according to the parabolic SAR. The “reason” that I had was that I wanted to ensure I give enough space for the price to fluctuate. Since price was dropping slowly, I decided to hold on and set the stop loss at 1.0111. A strong breakout on 4/12/09 2pm triggered the stop loss instantly. “If” I had followed the rule of moving the stop loss, I would have got out at 1.0019 with a 5 pips profit instead of a loss.
Trade Details:
| Currency Pair: | USD/CHF |
| Trade: | Short |
| Method: | Modified PIPS Swing |
| Global Stock Market: | Bullish |
| Date & Time of Entry (GMT): | 1/12/09 12am |
| Entry Price: | 1.0024 |
| Initial Stop Loss: | 1.0144 (120 pips) |
| Basis of Stop Loss: | Parabolic SAR |
| Initial Target Profit: | 0.9724 (300 pips) |
| Basis of Initial Target Profit: | 300pips |
| No. of contracts traded | 1 mini |
| Planned Risk-Reward Ratio: | 1:2.5 |
| Stop Adjustments: Price and Profits Protected | 1.0111 (-87 pips) |
| Exit Price: | 1.0111 (-87 pips) |
| Exit Time (GMT): | 4/12/09 2pm |
| Reason for Exiting the Trade: | Stop loss triggered |
| Profit / Loss (Pips): | -87pips |
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{ 4 comments… read them below or add one }
very professionally done. I am sure the profits will come soon.
very professionally done. I am sure the profits will come soon.
Thanks for the support!
Thanks for the support!