Closed Trade USD/CHF – Failed Surf

This is a closed trade that was placed on July 28th, 2010 as part of the live forex trading bootcamp.This trade happened after a getting stopped out on the USD/JPY & two successful trades, a 55 pip gain & a 31 pip gain on the EUR/USD. So far my overall success rate with trades during the bootcamp is 63.63%, with a 14% average gain.
This trade was placed in a real forex trading account & was posted as it happened. Below you can read the unedited log of this trade to see an example of Forex Surfing in action:

USD/CHF Archive Trade

The trades to watch for for today’s Sydney/Tokyo session are listed below:

USD/CHF

I’m just entered a 1-hr Forex Sail on USD/CHF Forex Sailing opportunity that I discovered during the the London/New York session earlier today. During the last session prices trended up slightly, making the trade just out of range to get in at fibonacci retracement. Today prices have retraced back down to a better entry price. Here’s the order screen with the settings for the order I have placed: Here’s the 1-hr chart used for entering the trade (the circle is the entry price): Here’s the filled out fibonacci worksheet: Here’s the numbers for the recent wave. It’s a double wave, but since they’re both the same size, I just used the 2nd wave for entry (so the numbers below go with the worksheet): I: 1.0479 II: 1.0640 III: 1.0565 entry: 1.0564 long stop: 1.0479 (max risk = 85 pips) limit: 1.0739 (potential profit = 175 pips) reward/risk = 205.88%

Stopped Out

At 09:37 am GMT on 7/29/2010 this trade hit it’s stop for a loss of 85 pips. It basically went straight down after placing the trade. It happens with some trades.

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