It is the second wait day for the open orders. Since, both the orders reached a certain threshold on the profits, therefore, the Stop Loss on each was moved ahead. The recent order is now on No Loss as stop loss and the other one is on Stop Loss of a mere 50 pips.
My strategy with the moving stop loss is simply moving the stop loss by 50 pips, the moment the order moves 100 pips. Since, with one of the open orders, the price moved 200 pips in the profit direction, so the Stop Loss with it became neutral (though it still carries the brokerage costs); while with the other it came down to 50 pips. It is because there was a difference of 50 pips between both the orders.
The market moved north today for the most part of the day, but now as we progress towards the US times, there seems to be a southward trend again.
As of now, I am still with the entry order which I mentioned in the trades for yesterday.
And for the current open trades, as explained above, in the worst case scenario, I would be incurring a loss of 50 pips.
The commodities are again showing a haphazard pattern, I am pretty firm with the policy of not getting into them till I get a firm signal.
So hoping on hitting the take profits on both the open orders as of now.
Happy Trading !!!
My strategy with the moving stop loss is simply moving the stop loss by 50 pips, the moment the order moves 100 pips. Since, with one of the open orders, the price moved 200 pips in the profit direction, so the Stop Loss with it became neutral (though it still carries the brokerage costs); while with the other it came down to 50 pips. It is because there was a difference of 50 pips between both the orders.
The market moved north today for the most part of the day, but now as we progress towards the US times, there seems to be a southward trend again.
As of now, I am still with the entry order which I mentioned in the trades for yesterday.
And for the current open trades, as explained above, in the worst case scenario, I would be incurring a loss of 50 pips.
The commodities are again showing a haphazard pattern, I am pretty firm with the policy of not getting into them till I get a firm signal.
So hoping on hitting the take profits on both the open orders as of now.
Happy Trading !!!
