Trading Signals for Thursday, May 23, 2013


Looking at my open trading positions today, I can clearly see that I am up for a loss on either or both of my long positions.

Luckily, I had open an inverse Sell entry; with that half of my losses will be recovered, bringing my sum total of losses to a mere 50 pips.
Though the entire losses would have been erased had I taken a bigger take profit levels on my Sell position. Anyway, that does not come in my usual strategy of trading, so I did not go with it.

And now talking of the current facts, as of now my trades are saved. If the market goes low till 1.2749, then in that case I will only have 1 buy order; which is more likely considering the stochastic positions on the 4 Hr charts.

So, I will talk of the strategy at the time when my deals will close, right now I am happy that in a worst case scenario I am only in for a 50 pip loss from my principal equity amount, instead of a regualr 200 pip loss associated with 2 entry orders. 

Happy trading !!!

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