Posted by: joetradingplace | March 11, 2015

Catching the Big Trends

No new trades yet, but we still continue to track those 3 open trades we had from last week. As you see from the charts below, we are now placed in a very good position, we are now taking advantage of the trend, we have no risk now because we have taken partial profits and some profits have been locked in. The 2 short (eurjpy and eurusd) reached 3rd targets, giving us 4% gain…eurusd 4th target is not far as you can see from the chart. Aussie short looking ok, it has reached 1st target, giving us 0.5% gain. So now worst case scenario is that the market comes back and stops me out for a gain of +7%, but if price keeps going down, the gain is infinite. So as a trend trader, I always know how much I will lose, but don’t know how much I will gain, I let the market decide. I only set profit targets for a few lots and then the other lots are let to run, I think trying to set profit targets on all your trades limits you from taking advantage of the trend.

Gain on the 3 trades so far = 7%

All trades are in profit 1500+ pips,2015-03-11_11-052015-03-11_11-062015-03-11_11-09

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