5/27 Update and Review

Slowly starting to pare back my positions as the weekend approaches. Usually I don’t mind leaving some “smaller” positions open, but the full lots and double lots I like to have closed. Unless of course there is an obviously blatant reason to leave them open.

Yesterday was a good day. Total of 187 pips.

Current Positions open –
1/4 Lot (Long) @ 119.26, TP @ 113.71 (I know the TP is lower then the original entry, I am satisfied with this, read below to find out why.)
1/2 Lot (Long) @ 110.63 – TP @ 113.49, SL @ 110.55 (I will trade with a tight Stop Loss when we near the weekend)

As for why I am happy to close out my 1/4 lot with -550 pip loss – Since I opened it on May 10th, I have gained over 1000 pips with an average position size of 3/4 of a Lot. My total pip loss will be 550 pips @ 1/4 Lot size…this is something I can easily absorb. This weekend I will get into my method a bit more.



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s