Stopped Out On USD/CHF Trade – March 12, 2013

Price just hit my stoploss on this trade, so we’re down 2% from our 5.5% gain last week.

I traded a breakout on AUD/USD, so personally I’m up a few pips for the day, but they are a lot more complicated and aren’t covered by the Smart Money Forex Trading Method, so I don’t expect anyone else to have had a winning day today.

120312-usdchfh4

I am planning to do a course on breakouts, but since watching live price action is required it’s going to have to be a video course, and that takes time. Look for that in about 2-3 months.

Once you know how to trade breakouts you’ll be able to offset most of your reversal losses, since failed reversal trades often turn into breakouts.

For now we’re watching the charts and looking for our next trade.

By |2015-11-05T22:20:28+00:00March 12th, 2013|Live Trades, Phil's Forex Blog|0 Comments
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