Wednesday 11 May 2011

11th May .. and the Importance of Risk Management...

Good Evening ... :)

I have placed the following Income Generator trade orders ...

Short on USD/CHF, USD/JPY, USD/SGD and GBP/CHF
Long on NZD/USD and AUD/NZD...

I had a look as well this morning, and since a couple of the possible Income Generators hadn't triggered I placed them in the market ... the only one to trigger was NZD/USD ... which also stoppped out today for a 1% loss.

At the moment the market isn't being kind ... my Demo Account has now dwindled by over £1700 .. from £55300 to£53600 ... with this many trades going against me, it's easy to see the importance of Proper Risk Management.

... anyway ... I'll be back tomorrow evening ... until then be safe in the market :)

Cheers,


Current position from tonight
Curr. PairDirectionEntryStopTargetP&LComment
USDCHFShort0.87770.88870.8667--
USDJPYShort80.5581.3579.75--
USDSGDShort1.22731.23701.2176--
GBPCHFShort1.43631.45541.4172--
NZDUSDLong0.79780.78650.8091--
AUDNZDLong1.36811.35251.3837--



The following are the charts I traded :

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