Wednesday, July 11, 2007

USD/CAD - Managing The Trade


Hey Everybody,

I hope you're all having a great day and enjoying our live trade on USD/CAD. Now that we have a nice little profit of about 40 pips, it's time to move the stop. I'm going to lower the protective stop to 1.0585, which was also the entry point. At the same time I'm going to close 1/3 of my position. This means that we'll have a nice little gain on 1/3 of the trade, and at worst a break-even scenario on the other 2/3 of the trade. Hopefully this puppy will keep on running, and we can take additional profits and lower the stop further.