Hi All,
The purpose of this journal is to share some individual trades that are especially interesting and hard to share with 140 letters on Twitter. After the publication of RabbitTrading website, the blog will be moved there.
I want to share a trade I took on friday and closed today for a huge profit boosting my account for +39% on a single trade.
I entered short at a price action signal after USDHUF has been consolidating for a long time in the daily timeframe. Please see attachment 1.
I entered the trade based on a very strong price pivot level, which allowed me to put on a really tight stop loss. Just a few pips above the massive level. With such a tight stop, the reward was huge. Originally I aimed for 1:30 risk/reward ratio, but as I trailed my stop according to my trade plan, my trailed stop was hit at 1:13 risk/reward ratio. Please see attachment 2 for more details.
There trades happen very rarely and the chances to win are far less than 50%. But when there is a chance to go for a "big picture" move with a very tight stop loss just on the other side of a strong pivotal area, there is a chance for a huge risk/reward trades.
Please see my Twitter and myfxbook for details too:
Twitter: https://twitter.com/RabbitSignals
Myfxbook: https://www.myfxbook.com/members/Larry4/rabbit-trading/1348738
Best regards,
Larry
The purpose of this journal is to share some individual trades that are especially interesting and hard to share with 140 letters on Twitter. After the publication of RabbitTrading website, the blog will be moved there.
I want to share a trade I took on friday and closed today for a huge profit boosting my account for +39% on a single trade.
I entered short at a price action signal after USDHUF has been consolidating for a long time in the daily timeframe. Please see attachment 1.
I entered the trade based on a very strong price pivot level, which allowed me to put on a really tight stop loss. Just a few pips above the massive level. With such a tight stop, the reward was huge. Originally I aimed for 1:30 risk/reward ratio, but as I trailed my stop according to my trade plan, my trailed stop was hit at 1:13 risk/reward ratio. Please see attachment 2 for more details.
There trades happen very rarely and the chances to win are far less than 50%. But when there is a chance to go for a "big picture" move with a very tight stop loss just on the other side of a strong pivotal area, there is a chance for a huge risk/reward trades.
Please see my Twitter and myfxbook for details too:
Twitter: https://twitter.com/RabbitSignals
Myfxbook: https://www.myfxbook.com/members/Larry4/rabbit-trading/1348738
Best regards,
Larry
