Thursday, November 12, 2009

Close Final Position: Long EURUSD at 1.4876

Date: 4 Nov 2009 (Enter Trade)
I placed my buy order ealier and I got in the trade at 1.4876. It is hard to turn my position from short to long specially when I just had a huge loss of USD910.85 (16% of my total fund).
Date: 5 Nov 2009 (Reduce Trade Position)
I reduced my position from size 0.50 to 0.40 as I realized that my fund has reduced to USD 4669.14. (Deposit of USD 1000 for the size of 0.10)

Date: 6 Nov 2009 (Changed Stop loss leverl)
I moved my stop loss level higher to 1.4799. The potential loss will be USD 308 (1.4876-1.4799=77 pips, 77pipsx4=USD308)

Date: 10 Nov 2009 (Reduce Positions) I further reduced my position (size:0.20) by shorting at 1.4966 with a little profit of USD180.

Date: 11 Nov 2009 (Further Reduce Position)
I further reduced my position (0.10 size) remaining size 0.10 with the profit of USD166

Date of total exit: 12 Nov 2009 (Close the final long position)
The price finally hit my stop loss of 1.4928 with profit of USD52 only.

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