Hi, It is the first day of the week, and my last opened entry order closed with a stop loss of 50 pips. The market took an unexpected turn downwards thereby adding to my losses. Though it was a good thing on my part to go with my theory of revolving stop loss.
Following my theory to the 'T', I had moved my stop loss by 50 pips, as my order had surpassed the 100 pip mark. Hence, my loss on the entry order was of 50 pips instead of 100 pips.
Also, another of my entry order opened at 1.2899, as always the stop loss is of 100 pips and take profit is of 300 pips.
Further, another entry order is kept as follows:
Long at 1.2849, with a stop loss of 100 pips, and take profit 300 pips.
Thanks and happy trading for the week.
Following my theory to the 'T', I had moved my stop loss by 50 pips, as my order had surpassed the 100 pip mark. Hence, my loss on the entry order was of 50 pips instead of 100 pips.
Also, another of my entry order opened at 1.2899, as always the stop loss is of 100 pips and take profit is of 300 pips.
Further, another entry order is kept as follows:
Long at 1.2849, with a stop loss of 100 pips, and take profit 300 pips.
Thanks and happy trading for the week.
