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| AUDUSD 1HR Time Frame |
I think I need to post this update since this is actually my first win! My 4 trade losing streak has finally been broken! I wish that I will never experience that feeling again! And this happened because of a Non Farm Payroll news report! The thrill was very satisfying especially when waiting for the release of the report. The nervousness that the report might go against my trade was nerve wracking! I won 100 pips on this trade unfortunately I wasn't able to post my change in trade setup. What I was only able to say was that I was going to change my stop loss and take profit level yesterday here.
Yesterday I said that when this trade was still open when the Non Farm Payroll (NFP) comes out, I would change my stop loss and take profit target to secure my profit. As you can see in the chart above I labeled there my new stop and target. I ensured that this trade will have even just a little profit and break my losing streak! I lowered my stop loss just above the two tops created by the market when this trade was still active and also lowered the take profit level to have 100 pips from 80 pips in the original setup. I think I could still have lowered that take profit level. But I don't care! A win is a win!
I am now only down 50 pips. With my 100 pip win trade I was able to cut my 150 pip loss from my four trade losing streak! With this kind of win gives so much morale back to you as a trader. I just hope I can have a four trade winning streak to make a great come back!
Good luck in trading guys!
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