LIve Currency Trade

My trading system fired off a sell signal this morning on the Eur/Usd currency pair. I got a fill at 1.2762, a stop was placed at 1.2795 (above the hourly bar) and a profit target limit order was placed at 1.2685.

This trade is risking 33 pips (in currency pips are the equivalent of points in futures) for a potential profit of 77 pips. This gives the trade an R-multiple of 2.33 which is acceptable (2 is the cut-off) . Below is a chart showing the trade on an hourly chart. The vertical blue line shows where the sell signal occurred, the green line is the profit target and the red line is the stop loss. We'll see how it turns out...the fun thing about using a mechanical system is that the trades happen and you get to just sit back and watch. If this one doesn't work, no biggie, the system will fire off another signal shortly and we'll try again. Each trade is nothing more than a number and as long as you know the odds are in your favor, you can just let the numbers work for you.

I'll post an update later.

Good luck out there.

TLT