WCM Trade 1 - GBPUSD Long

FX:GBPUSD   British Pound / U.S. Dollar
30 0 1
We took a long position on this pair, intended for a short term ride up towards the 200EMA with a Take Profit level of 1.5500. Taken on the 4hr chart this provided us with the required 2:1 Reward:Risk set out by our Strategy.
Our minimum confluence factors are 3. On this trade these were:

Unfortunately the spread difference from our broker platform triggered us in early. Due to the account being new we had not anticipated that we would need to reconfigure our settings to match our previous account. This was human error. Had it been accounted for we would not have been entered.
Coupled with weaker than expected GBP Manufacturing PMI data, this position was subsequently stopped out for a 0.75% loss.

Lessons -
We have now reconfigured the charting to account for the spread difference. This will enable us place our Entry Orders and Stop Losses based on ask price, whilst determining market direction based on actual market price.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out