Monday, April 30, 2007

Trade the News: USD/CAD

[13:29] Reading the price action before the (GDP) news release. Decided to sell at 1.1157. Maximum risk 10 pips.













[13:30] Better than expected GDP.













[13:36] Hanging onto the winning position, initial target of 1.1131 being hit easily but finally exited at 1.1124 for +33 pips. A good reward-risk ratio of 3 : 1.













[13:41] MM levels changed. A better exit should be 1.1108 for extra 16 pips. Anyhow, I was satistified with my earlier exit. Possible improvement on the result by using trailing stops.

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