EUR/USD Beginner Level trading
This is the trade update Its in profit and I should add to my winners but I dont have enough trading capital and I dont want to get caught in a margin call
Price has exited the Asian low and I have now adjusted my stop to wait at breakeven
Just went long with 15 pip stop and my TP target is 1.1600 where the eurusd expiry is sitting.
I just took a buy trade with 10 pip SL and TP at 1.1605 where today's eurusd option expiry is sitting
Price is heading for my TP and because the Frankfurt session is known for reversals/fakeouts, I have adjusted my SL for breakeven while waiting for my TP to be hit
Trade closed for 8 pips profit. Ditto! profit has been moved to my wallet for withdrawal while trading capital is left in the account.
Trade closed for 8 pips profit. Ditto! profit has been moved to my wallet for withdrawal while trading capital is left in the account.
Nice trade @yoks, by "wallet" are you referring to crypto withdrawal or?
Nice trade @yoks, by "wallet" are you referring to crypto withdrawal or?
No, not crypto wallet I was referring to my FxPro wallet which is like a storage for funds you dont intend to use for trading. When you transfer money to your wallet, it cannot be affected by margin calls or used as equity for ongoing trades. The wallet is like a safe space for your funds. For FxPro you must transfer funds from your trading account to your wallet before you can withdraw.
No, not crypto wallet I was referring to my FxPro wallet which is like a storage for funds you dont intend to use for trading. When you transfer money to your wallet, it cannot be affected by margin calls or used as equity for ongoing trades. The wallet is like a safe space for your funds. For FxPro you must transfer funds from your trading account to your wallet before you can withdraw.
Not all brokers offer this wallet feature I just know a few that do such as Tickmill, HF Markets, HeadWay broker
What went wrong? (trade post mortem)
I noticed that price was unable to close above yesterday's London low hence the rejection and consequent fall in price. if I had spotted this early enough, I would have closed the buy trade at breakeven and prepared to sell.
Weekly Review
Monday set the high and low for this week. however, it was a bearish week with Monday being the only Bullish day.