I felt that the entry of this trade was good as all the criteria have been met. The pair bounced back after it hit the low around 0.8070 last week. It turned weak again by dipping below the Weekly Pivot with long GMA still widely separated and short GMA expanding.
The stock market turned bullish with Dow Jones closing with a 2.26% increase which caused USD to weaken.
Shorted 1 mini contract at 0.8361 on 2 Jun 10.
Bought back 1 mini contract at 0.8444 on 3 Jun 10.
Loss = -83 pips
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- AUDUSD (short) – closed on 29 Jan 10
- EURUSD – closed on 20 May 10
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{ 6 comments… read them below or add one }
Hi Alvin,
Whats the margin like trading a mini contract? I never traded fx before so I’m new at this. I just wanna chk out the size , margin, cost, initial deposit in opening a mini a/c. Appreciate if you can assist.
Many tks.
Ryan
Hi Alvin,
Whats the margin like trading a mini contract? I never traded fx before so I’m new at this. I just wanna chk out the size , margin, cost, initial deposit in opening a mini a/c. Appreciate if you can assist.
Many tks.
Ryan
Hey Ryan, 1 mini contract is $10,000. Margin is 1:100. Depending on broker, $1,000 should suffice to open an account.
Hey Ryan, 1 mini contract is $10,000. Margin is 1:100. Depending on broker, $1,000 should suffice to open an account.
Thanks mate!
Thanks mate!