Trade #50 (M5 CHART - WIN)

FXSCOPE JOURNAL TRADE #50

Start Time: 2016-04-28 23:40 (GMT+1)

Currency pair: EUR-USD

L/S+P: Long @ 1.13559

Technical RFE: Positive RSI above the 50 M15-H4. Clear bullish trend. Pivot Point MA:s still pointing up after recent bullish crossover. The price is now above both the M15, H1 and the H4 Ichimoku clouds and the Chikou span signals bullishnes from the M15 all the way to the Daily time frame.

Risk in pips: 57

Reward in pips: 28.1

Risk/Reward: 1:0.49

MM Risk: 13.30%

BE at: no BE

ITM: No. Nightly completely unwatched trade.

COMMENTS: A way too risky trade, normally. A MM-Risk at 13.30% is not acceptable. Always aim for the 1-2% rule. Moreover, the Risk/Reward is also too low (1:0.49, always aim for at least 1:1). This is in fact a good example of HOW NOT TO TRADE, even though the trade ended up a winner.

SCORE IN PIPS:  +28.1

 

Trade #50 (M15 CHART - WIN)
Trade #50 (M15 CHART – WIN)