Trader Gains 130 Pips Per Dollar - Patience Is Key

Trader Gains 130 Pips Per Dollar - Patience Is Key

24 Dec 2020 12:21 PM
 

 

Trade call given my Myforexeye on 10th November was to sell GBPUSD 25th November Futures.

Sell At: 1.3245

Stop Loss: 1.3300

Take profit: 1.3150

Myforexeye while giving trade calls, follows discipline by patiently waiting for "Take profit" and "Stop loss" levels. We follow 1:2 ratio for stop loss and take profit respectively.

The GBPUSD cable rose to 1.3298 in a few days- only a few pips closer to the stop loss level. Despite the market going against the trade call, the trader did not get nervous and the position was not squared off. The trader believed in his conviction and waited for the stop loss and take profit level.

The market took a turn and take profit level was reached. The cable even surpassed the take profit level of 1.3150. The position was exit at 1.3115 making a profit of 130 pips per dollar.

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