Wednesday, 19 August 2009

Message 12

Price is still ranging within the 4H small upward channel...I have entered another trade at the bottom of the channel hoping for a quick 70+ pips.

Trade 2
EUR / USD - Long - 80,000 units @ 1.4112 - 50pip hard SL - 5% of capital at risk (see below)

In the event the price breaks downwards of the channel, I will get out of both trades, thus even thought theoretically I have 10% at risk on both trades in reality (as long as I can monitor price and act quickly) nowhere near this much will be lost.