Trade 17: Short NZDUSD Short

New Zealand Dollar/U.S. DollarFXCM

Description

⋅ Jul 13, 2017 1:25 PM

Placed a pending short limit slightly above market.
Pending Short at : 0.7346--- T1: 0.7254---- T2: 0.7120 --- SL: 0.7401

For more details and Stats goo.gl/rtfmna

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

Remember
-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 year.

Best
Technician

Order cancelled

⋅ Jul 14, 2017 12:31 PM

Support and Resistance

Comments

AbdullahAljohani

⋅ Jul 13, 2017 1:31 PM

don't counter the trend, go with it instead. sorry brother, trend following have more success rates than countering the obvious trend.

Technician

⋅ Jul 13, 2017 6:44 PM

@AbdullahAljohani, Yes I agree :).

abood

⋅ Jul 14, 2017 6:35 AM

Good luck in this, is the trade active?

Profound_Ambition

⋅ Jul 14, 2017 6:38 AM

@abood, id be careful, news in the morning that could weaken the dollar

Ansari

⋅ Jul 13, 2017 2:19 PM

Simple but Great

Many Thanks

Technician

⋅ Jul 13, 2017 6:44 PM

@Ansari, You are awesome.

R1ckyDelgado

⋅ Jul 13, 2017 1:45 PM

Hey @Technician,
just answered my own question by looking at your targets. I will close at .7226 if it gets there ;).

May I ask what method you use to set your targets? Is it subjective or always percentage based?

Technician

⋅ Jul 13, 2017 6:44 PM

@R1ckyDelgado, i use support and resistance

R1ckyDelgado

⋅ Jul 13, 2017 1:41 PM

Hey @Technician,
If I shorted at .7318 NZD/USD, what would be a good target to close at?
Thank you!