Friday, July 31, 2009

EURUSD Long Trade




Went long for the EURUSD trade as the EMAs that I used had signalled for a sale. Entered the trade before the Accelerator Ocsillator's green bars appeared but that's a risk I was willing to take.
On hindsight, my SL was about 1% more than 3% of my risk capital. This is an area that I need to be more disciplined in. However had I maintain the 3% SL, the trade would have closed at a loss. The decision to set a higher SL was because of the support level from the recent closed sessions.
P/L for the day: 21 (from my GBPUSD trade earlier today)+44 pips = 65 pips

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