Wednesday, October 15, 2008

10-15 USD/CHF Trade


A simple trade, but yet still profound to me on the break of a fractal and TSR. After a close of the 11:00 GMT candle below TSR, I saw the rally within the first 15 minutes of the hour and shorted the trade at 1.1353. I took out most of my position with 20 and then closed the remainder after I did not get the "shove" that I wanted in my direction. I think this pair is looking more bearish but it is yet to be confirmed. That is why I have come to realize money management is so crucial. I made money on this trade, yet it could continue with the macro trend and take off to new highs. Like Chris says, "you don't have to know where it's going to make money." So TRUE!!!