Friday, November 2, 2018

Trade for Nov 1

The British Pound was on a tear on Oct 31 going from 1.275 to 1.3047, so I mapped out a supply zone and shorted 2 contracts (BPZ18) at 1.3045. This would be considered a counter-trend short sale, and carries more risk than a short in a down-trend. 

Caught a small move down and closed my position at 1.3020 at a stop. During the trade I moved my stop down to this level and the price then moved up several hours later to close the trade. 

Profit was $306.40 after commissions. Not a huge gain, but I'll take the small profit to make up for my small loss the day before in WTI crude. 

Futures trades since Sept 1 now stand at a profit of $3,072.50. 

17 total trades. 
8 losing trades. Average loss of $209.37.
9 winning trades. Average gain of $527.5
Profitable trades are 53 percent. 

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