The details of my entry are in the #trade-alerts channel and im already riding some profit.
We have GBPJPY buy, as per the alert.
EURAUD sell as per the alert
And Now WTI buy, so here are the details of WTI the other two you can find in the #trade-alerts section.
I have an entry at 46.90, based on a possible contraction, but spikes can be expected hence I used a wider SL for this one. The RR is still strong, 3 to 1.
My current TP is 49.53 which is a gain of 9.6% and my SL is 46.03 which is a loss of 3.1%, but there is a high chance of my increasing my TP to 51.600 which SIGNIFICATLY increases the RR/ ROI and that would only happen on very positive comments by OPEC and/or big cuts!
Keeping in mind that OPEC can really move price!
TIP FOR THE SESSION
We know if our risk is right when we make a lot of money, but can still sleep at night.
Risk is the amount of risk per trade: the dollars risked between your entry and your stop loss based on your position size and what percent this is of the total capital in your trading account.
Always know how much your total risk is in regards to how many positions you have open at one time as a capital at risk for your entire account.
Our simple but effective RM system is:
1. Definite exit area
2. Strucutred position sizing
Follow this RELIGIOUSLY!
Enjoy the London session and Rememebr, today like every other day can only end in ONE OF FOUR WAYS!
1. Big win
2. Small win
4. Small loss
It is your DUTY, OBLIGATION and COMPLETE RESPONSIBLITY to end in these levels, and even if its 3 or 4 (point) thats ok... tomorrow is always a new day and your focus should be to end the week in profit, and not every single trading day!