Trading Journey - Trade #8: Short CADJPY
Intraday Trade
Shorted CADJPY at 83.20
TP1 82.80
S.L 83.45
Risk/Reward: 1.6
Risk of capital for trade: 1.5%
- 1.618 Fibonacci extension for latest down wave
- Falling Trend line
- RSI Overbought
Shorted CADJPY at 83.20
TP1 82.80
S.L 83.45
Risk/Reward: 1.6
Risk of capital for trade: 1.5%
- 1.618 Fibonacci extension for latest down wave
- Falling Trend line
- RSI Overbought
Trade closed: stop reached:
-1.5% capital
Comment:
Return after all 8 trades so far: -2.268%
Comment:
4 losses and 2 PARTIAL winners(Only hit 1 target, not both. If we consider the two partial winners one full winner then I have 1/5 win rate = 20% and 80% loss ---> -2.268 %. This is why risk management is important.
