Trade #2: In and Out

April 19, 2008 03:18 by Jon

I made a quick and small profit on AUD/USD today.  My sell limit order was hit this morning as the AUD/USD dropped below yesterday's low.  It continued down until it hit my first profit target, at which point I moved the stop on my remaining two positions to a few pips below break even.  Price then came back and took out my stops.  So, I closed the week with a profit of 48.5 pips on the first third of my position and a profit of 5.5 pips on each of the remaining two thirds of my position.

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