Another EURCHF trade

A few days later after my long trade with EURCHF which should have yielded a nice 180 pips (of which I took none… see previous post for reasons)..  another trigger was initiated but this time on the short side. The stochastics crossed and the trend line indicated short. I went short at 1.6275 with a 50 point stop and a 50 point target.

The market fell sharply and I took my profit at 1.6235 for 40 points! I am still unable to ride the trends.. I was thinking it being Friday and the market being close over the weekend, it may open with a gap.

Anyway, I didn’t even leave the market to hit target and to be honest, the market is heading my way I should still be in. The take profit with this strategy is to open 3 lots with a 30 point target for the first, 60 for the second and 90 points for the third.

If I had followed this, it would be a nice 90 point profit already with the third trade open with 60 points in the bag.

The problem is, I am still testing this trading strategy and only open opened 1 lot….

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Category: Forex trading, Make Me Some Money Ideas, money, Spreadbetting, Trading