Monday, October 22, 2007

Euro Trade - Update

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Ok, so I logged in just before my lunch hour break and decided to close off my Euro short, mainly because I didn't know how to manage the trade and didn't want to have to worry about it for the remainder of the afternoon.

Short @1.4321, stop=1.4331, exited @1.4170, profit=151, R-profit=15.1R

Though I shouldn't complain about 15R profit, there is much to be done to improve how I managed the trade in order to avoid leaving 30points on the table.
First order of business is to learn to get more comfortable with using Bracket Trader to manage the trade with trailing stops.
Also having a plan in place to deal with these situations the next time it occurs will help out too.

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