Saturday, February 28, 2009

Trade Result - GBP/JPY +150

This trade worked out pretty well. We ended up getting stopped out at 138.00 for a +150 pip gain. Can't argue with that. The trade opened at the end of the 1900 EST bar on Feb. 26 and moved down pretty well from the start. It didn't hit our 100 pip gain for move to break even until about 0300 EST on the 27th. I put a 50 pip trailer on the trade at that point and after a bit of fluctuation it continued its move down ultimately hitting a low of 136.70. Because of our trailer though we had our stop at 138.00 and the pair came up pretty quickly from the low and took us out just before 0900 EST on the 27th. All in all, not a bad trade. More to come so stay tuned.

Happy Trading!