Tuesday, June 28, 2005

30 Pips Profit PER Lot This Morning :)

Charise here with another mini-trading report...

In this morning's trading session we had a really good drop and were able to take out a nice 30 pips profit per lot. Looking at the chart below you can see the profit area between the two green lines.

(Click here for larger image)

After going sideways for awhile, the trade was entered once the currency broke below that top green barrier. The exit point at the 2nd green line was marked by that blue candle. Just didn't want to chance the currency turning around especially after a 30 pip gain!

Remember, a daily goal of 5 pips will do the trick. 10-15 is also a good goal given that each currency pair moves 150-250 pips per day.

Many of the top traders focus on 10 pips per day per lot while letting their profits ride during big movements. The amount of money you can generate on just 10 pips per day is only relative to the size of your account which grows and compounds. But it's the same 10 pips!

Everybody has the same opportunity within the forex whether they're account level is at $300 or $3,000,000.

I hope you've enjoyed today's mini-trading report.

This is The Forex Goddess signing off...