Trade 29: Short GBPCAD

FX:GBPCAD   British Pound / Canadian Dollar
Shorted at: 1.6230 ... T1: 1.6134 .....T2: 1.5939 .... SL: 1.6297 .. Risk for Trade 2%

Trend resumption after minor pullback as the price broke horizontal support. Falling trend line acting as resistance.

For more details and all Stats

Disclaimer: This is my trading experience, it is not an invite or recommendation to trade.

-Never risk more than 2% of your balance on a single trade. And If you are a beginner 1%.
-A Single or few trades result is not important. Whats important is the net return at the end of the month, quarter and yea
Comment: First target hit
Comment: moved stop to entry
Trade closed manually: Second half closed at breakeven


Great trade. thanks
+2 Reply
Hello Technician i opened a last position thinking it was going to 1.59 but it reversed its making higher lows and higher highs you think it's going downwards again or the uptrend has started and i should cut losses?
+1 Reply
@likst4, Trading doesn't work this way, i mean you MUST not forecast where the price is headed all the time( so i cant know where it going now).. You should only trade when you have a trade setup with a clear stop(invalidation of setup) and targets. Always cut losses if your trade setup is invalidated.

For me, i sold long time ago and took profit at first target and kept half position for second target, so it is different.
likst4 Technician
@Technician, Thanks for your answer! I got greedy I opened the position at 1.61 and closed at 1.60 before the bullback wanted to ride the downtrend again but noticed to late and thought it was going lower as you say it was reckless by my part, hope it goes down again to atleast break even!
Thank you!
Hello there, im sorry I'm a beginner please do forgive me if my questions will sound rather stupid I'm still learning. From where the trade is right now, do you think there's a possibility that it might go up in the next few hours?
@Tarpeery, hi mate if you are learning please go to school section you'll find everything, this website helped me a lot and i wish it will do the same to you Cheers !!
Tarpeery YaseenG.Housari
@YaseenG.Housari, thank you so so much dear! I shall have a look
Hello there
thanks brother, keep up the amazing work!
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