TRADE ALERT—-EUR/USD MACRO TRADE

We are currently up 103 pips on our EUR/USD,traing, signals, Macro Trade. That being the case we are raising our stop to reduce risk.

SL MOVED FROM -300 PIPS TO -150 PIPS

 

Updated as of 00 GMT 9/2/08

As the EUR/USD dipped towards 1.4550 you could start seeing very large buyers coming in to scoop up the pair. They seem to0 large to be day traders, so they are most probably are institutional or quasi sovereign names.

Look back at the trade now, we realize that we got in too late………….1.54 should have been our entry, but we made a mistake………..yes its ok to make a mistake, in fact since we are in this trade at a size of 50% cash even a loss would not represent a major hit to our account…………(I’ll have a whole post on “mistakes” later on).

We are currently evaluating the trade’s current risk reward ratio and may exit the trade if that analysis proves to not be advantageous.