The perfect forex trade

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It was amazing.

It was perfect.

It was….heartwrentchingly painful to sit through! So, my third trade back (after about a 6K gain on my first two) is a heavily margined short of USD/CAD at around 1.1375. Charts looked heavy, and daily chart looked like it needed a pullback. That pair is horrible to trade. I will never ever trade it again.

And yet, it was perfect.

You see, I help the trade through the NFP report this morning. While GBP was rallying 150 pips CAD refused to budge. The thing was, the initial spike in GBP and EUR (I considered going long in both) would have stoppped me out. So, my horrible CAD trade saved me. I got out when it finally crashed down to 1.1443. I got out (with a 5 pip spread! studpid forex.com) at 1.1452. 20 pips profit. Enough to put me up 10K on my 50K account and be done with forex.com

What is next?

I’ve wired out 10K for personal use, and I’ve put 50K up at at new broker (with much better spreads), dukascopy, a swiss firm. I’ll start logging my trades with Rob, and reviewing the days work on this site.

It’s good to be right. It’s even better to be lucky.

“sometimes the most important trade…is the one you don’t make” -me (but I’m sure someone has already said that at some time)