Paper trade: USD/CHF out at 1.03998 (+50 pips) and 1.03798 (+30 pips)

I’m all stopped out of my USD/CHF positions from a couple of days ago. I considered re-entering when we failed to break 1.037 a few minutes later. But the 1.04-1.043 range seemed heavy, so I postponed that idea.

About this trade, the maximum drawdown was terrific at a mere 0.12% (see stats below). I seem to do well with my entry. However, I’m leaving profits on the table once again. For my second exit, USD/CHF touched a high of 1.0451 but I was only able to get out at 1.03798. Granted, this portion is supposed to be loose to capture bigger moves, but that didn’t happen. So once again, I need to work on my exit.

Another thing here is that my USD/CHF target of 1.045 was spot on. I wanted to exit half my position at that level. But I couldn’t figure out how to do both target stop and stop loss at the same time after my entry order is sent. This problem has been resolved by asking customer support at Oanda.

I’m not entering any more new trade (aside from the NZD/USD stink bid which I placed this morning) because it’s Friday and I don’t see anymore obvious good setup across the board (a small board) for my 4h timeframe. Update: Nevermind, I was eyeing 1.0350 when I got stopped out as a entry point. USD/CHF just touched it as I’m writing this post. So I’m back in now with a tight trailing stop… (and it doesn’t seem to be holding after just a few minutes… and it’s stopped out for an additional loss of $4.86 on this tap.)

Entry: 1.03498, 6000 units

Stopped out 1: 1.03998, 3000 units

Stopped out 2: 1.03798, 3000 units

Net: $14.97 + $8.97

Time held: 14:51:00 and 37:10:00

Max. Drawdown %: -0.12% for both

Net from Max. Gain: 102.40% and 237.33%

USD/CHF

USD/CHF, 30-min

Related posts:

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2. Paper trade: USD/CAD long 1.07426, stopped out 1.06999 (-42.7 pips)
3. Paper trade: USD/CHF all stopped out @ 1.03099 and 1.0300
4. Paper trade: Long USD/CHF @ 1.009, out 1.0245 (+155 pips)
5. Paper trade: Short GBP/USD 50% @ 1.634, Out 1.645 (-110 pips)