Practice Trade
Right now, it’s 2/23/22 at 9am, and the trade was taken on 2/22. I went through my morning analysis, but initially, it was more just to stay in practice, and less to look for a trade. Near the end of the day, though, I decided that I wanted to take a trade each day, so I can get in the game, recalled that I was looking at NZD long and CAD short, so I glanced at the chart. I did it to A) just get into something but also B) to practice entering trades on the mobile app. I had some issues, but I think I figured it out, and then a bit later in the evening, I saw that the trade triggered on a nice up-candle.
I set a 5 pip trailing stop and went to bed. This morning, I looked at the NZD/CAD chart, and it’s basing again, but looking at my account, I was stopped out. Unfortunately, I can’t find the actual trade in my ThinkorSwim account, so I’m not sure at what price I exited the trade, but I do see that my Forex Buying Power has increased from $10,000 to ~$10,088. Glancing at the chart, it looks like it was a nice little trade. I think I’m actually going to run the numbers again and set another entry order here on this pair. But let me take a step back and actually do my analysis for the day
Entry – 0.8613
Stop – 0.8588
Target – 0.87
