GBPCHF - Trade Journal

FX:GBPCHF   British Pound/Swiss Franc
9 0 4
4 months ago

Majority of traders are long expecting a breakout. GBPCHF             has been rangy and I expect that to continue. This is a short term trade. Trade is active. I'm short @ 1.21384.

Currently my SL is pretty tight. I have plenty of room to adjust the trade because I am only partially in this trade. The max risk I'm willing to take is 1% on this trade due to limited experience trading this pair. I have room to increase SL and potentially may expand it to 1.2205. That would still allow plenty of flexibility to add to my position if the price goes higher.

4 months ago
Comment: Tradingview is a great tool, BUT there is a ton of noise (and fabrication) of many users trying to promote themselves. Protecting their 'reputation' they only share the good and are not transparent with the bad. I have no desire to promote myself. I believe Tradingview is a great tool to track trades, thoughts, strategies, for the purpose of becoming a better and more profitable trader. Tradingview would be an even better tool if there were more people being completely transparent and had pure motives for their posts.

This is my opportunity for transparency. The chart below shows my winning trade. However, the chart is not the reality of what occurred. Every active trade always has a SL. I also always map out my TP before entering a trade, but sometimes i like the trade to develop a little before entering the TP with the broker. I do this because if the trade moves strongly in the trade direction, I like to adjust my SL and expand the TP. It backfired in this trade. I wasn't watching the trade. EC moved past my 'planned' TP, but I never took any profits.


SL hit.

Fortunately, it was a very minor loss, since I never got all in on this trade.

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