I wish I were still in this trade. Unfortunately, I was the victim of my own trading system on this one. I opened this trade at the end of the 2000 EDT bar at 0.6828. This was a close right on the channel line, but the momentum was clearly up so I entered the trade. If you'll remember from my previous post (click here to read that post), I wanted to move to break even at +30. Well, after opening, the trade quickly moved up to my break even line. At break even I put a 10 pip trailing stop in place. The pair rose up fairly well for the next few hours, started reversing in the early morning hours and took me out of the trade at about 0020 EDT for a +40 pip gain. Here is how the trade looked:
In retrospect, I don't think any permutation of my general trading rules would have kept me in this trade, so I am going to try to be happy with my +40 pips and work on the next trade. If you are still in the trade, good for you. I wish I were as well.Happy Trading!
