This is a quick trade I'm taking in anticipation of the Fed rate cut. I'm keeping my RR to 1:1 because I'm not risking too much on this trade. I'm anticipating a larger movement tomorrow possibly, but if not, I think we're positioning ourselves for a larger swing in the next week or two.
I have begun to take an interest in coaching people and giving private lessons on technicals for trading. I'm only doing this because I have confidence that I've developed strategies that make me a consistently profitable trader, and I'd love to teach anyone and everyone that feels that they are struggling. Please send me a private message if you are interested! I believe it's far more valuable that traders learn how to trade independently rather than depending on published Tradingview charts.
Symbol: EURUSD Starting Balance: $100 Current Balance: $89.50 Position Size: 895 units Take Profit: 50 Pips ($4.48) Percentage Profit: 5% Stop Loss: 50 Pips ($4.48) Percentage Loss: 5%
Entry Price: 1.11527 Profit Price: 1.11027 Stop Loss Price: 1.12027
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I have doubled my target so that it isn't triggered upon the fed rate news. If this cuts at 50 BP or more, I anticipate a larger downward movement. I will be adding to my position with 5% more risk if the cut happens, and I will be adding an additional 5% at every pullback to the 200 ema line along the way. My hope is to squeeze this overall swing for 60-80% profit.
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Added an equal position at 1.11350. waiting for this to move down. I will swiftly exit if the news is unfavorable. Otherwise, I will continue to ride out the wave and add to my position over this week and the next.
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Original target hit, but still active!
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I notice that price is starting to get squeezed, and the 15M chart is closely approaching the 50 ema. I do not at all think that the trade is finished, but I am instead choosing to secure profits and re-enter at a risk of 15% whenever price touches the 200 ema. I will be posting my third trade as soon as this happens.
Trade 2 Stats: Starting Balance: $100 Balance before trade: $89.50 Current Balance: $110.07 Profit from trade: $20.63 Percentage gain: 23.06% Net percentage gain: 10.07%