Hey traders, hope you had a good start this week…
I’ve been getting a few emails from traders wanting me to update my trading plan for the GBPCAD…
I’m glad plenty of trader were able to take advantage of the GBPCAD…
This is exactly what we got to do every day, look for the best instruments to trade, and focus on them…
Right now we have more possibilities on the GBPCAD, let me show you…
GBPCAD Trading Plan
Here is my short term chart:
Ok, you already know we have a trade open, we have around 600 pips in this trade.
The second possibility is the retracement signal:
The third possibility, is the one we talked about yesterday, a breakout signal:
If the market goes on our favor, we are going to make:
1st trade: 890 pips
2nd trade: 290 pips
3rd trade: 120 pips
For a total of: 1300 pips…
Pretty good isn’t it?
This is why its very important how you manage each trade. In this case, we are trying to increase the size of our position, because the GBPCAD has been moving on our favor… (This is exactly the opposite as most traders do, take partial profits)…
What do you think about my trading plan?
Are you going to take these signals?
Do you agree that increasing the size of our trade is a good decision?
Share your thoughts.