GBPUSD (Closed)
Trade Management
-SL to break even at 3o pips
Journal
-In Yesterday's GBPUSD trade we were unfortunately taken out at breakeven with no profit secured.
We got the direction incorrect on this trade so a positive I can take from this is that I am glad I stuck to my trading plan bringing SL to breakeven or we would be sat in drawdown and capital would've been at risk.
-Looking back at how I could've improved on the trade management side of this trade I would have brought the stop loss into profit as we were dropping towards our target.
We were running at 2.5% profit so it would've been nice to secure at least a fraction of that
Moving forward from this trade I am going to look at moving stop loss into profit as we get further towards our target without risking being taken out of the trade prematurely.
Result
- 0%
-SL to break even at 3o pips
Journal
-In Yesterday's GBPUSD trade we were unfortunately taken out at breakeven with no profit secured.
We got the direction incorrect on this trade so a positive I can take from this is that I am glad I stuck to my trading plan bringing SL to breakeven or we would be sat in drawdown and capital would've been at risk.
-Looking back at how I could've improved on the trade management side of this trade I would have brought the stop loss into profit as we were dropping towards our target.
We were running at 2.5% profit so it would've been nice to secure at least a fraction of that
Moving forward from this trade I am going to look at moving stop loss into profit as we get further towards our target without risking being taken out of the trade prematurely.
Result
- 0%
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