Thursday, October 3, 2013

3rd October 2013: Trade #1

Win / Lose = Win
SL = 1.6 pips
TP = 3.6 pips
Reward / Risk = 2.25
Transaction cost = 0.55 pips

Net profit = 3.6 - 0.55 = 3.05 pips

Near-term resistance had formed along 1.36100. When I saw that price action stalled on both the M5 and M1 charts, I went short. I set my TP near the most-recent swing low. 

I'm not including spread in my transaction cost, otherwise I think it'll be "double-counted". Spread cost should already be reflected in my closing price. 

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