My real time forex trades
- Thread starter TMcKenna
- Start date
This one doesn't look good at all, I am down almost 5000 pips.
I have three small size lots here (total trade $3/pip) so down aroung 15K. Its the only trade open at the moment, still don't know what to do with it, put stop somewhere or just wait and average down below 11.0000 and try to get out at b/e.
5000 pips for this pair is nothing, it can move so much in a matter of few days.... If only oil were to colapse
Doesn't this sort of negate the accuracy of reporting your overall trade progress in pips?
I've always wondered why on all of the FX forums, traders post their P&L in the form of pips (rather than $ or %). When a pip value could be anywhere from $0.90 (USD/MXN) to $10, reporting by pips is rather ambiguous..
Let's try one quick trade, usd/cad short that is,
I just shorted one lot few seconds ago at 0.9875, this is standard lot, so $10/pip.
Living one more limit order over night to short 0.9925.
Both lots have 20 pips tp, the first one at 0.9855 and the second one 0.9905.
Stop loss for both lots is at 1.00
I am doing this ahead of canadian trade balance, expecting ranging until then.
Warning: I am a lousy day trader, so please don't try this at home.
I just shorted one lot few seconds ago at 0.9875, this is standard lot, so $10/pip.
Living one more limit order over night to short 0.9925.
Both lots have 20 pips tp, the first one at 0.9855 and the second one 0.9905.
Stop loss for both lots is at 1.00
I am doing this ahead of canadian trade balance, expecting ranging until then.
Warning: I am a lousy day trader, so please don't try this at home.