Friday, June 30, 2006

Forex Trade- 6.30.06

2:10 pm EST- 1 Trade Won

Well today we were able to manage another small win. However, I looked back and realized that I messed up on my trade. I entered at the right spot but my target and stop were wrong. Either way I would've won but I still want to note that I made a mistake in today's trade so hopefully I don't do it again :) The news releases at 8:30 am EST caused a breakout but because it was a news candle I did not enter. At 9:10 am EST I saw an Alba signal/breakout and I entered 3 lots long at 2757 with a stop at 2741 and a target at 2768. I knew that the PMI report was coming out at 10:00 am EST so I made a decision that if I was in the money by the time of the news release I would exit my trade but if I was negative I would just hold it and hope for the best. At 9:40 am EST my target was hit and I closed 2 lots and moved my last lot's stop to breakeven where I was stopped out on the very next candle. So it was a small win and certainly not enough to bring me back to positive for the month but at least we ended the month on a good note. Here's to better month...Cheers! ~Big Pippin

Result: +22 +3 -9(spread)= +16 pips

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