GBPCHF - SHORT

1 nov 2023

GBPCHF - 2 positions for short.
Both of them have same SL and TP(suggested zone areas).
ONLY ONE POSITION OPENED AT THIS MOMENT(sell1).
TP1 and TP2 may change at any time if market will show extra strength.
RSI level confirmed - OBV confirmed - above the MACD.

Warning!!!!
This content should not be interpreted as financial advice.

3 nov 2023

Nota

Sell2 activated

3 nov 2023

Nota

market moved to SL zone.
This is very important moment.
I will wait until the candle on H1 shuts up, than I'll decide whether to close both transactions or wait.

3 nov 2023

Nota

I will keep this position open over the weekend.
AUTO SL = candle must cross the line - not the spread

3 nov 2023

Nota

I changed the SL LEVEL !!!!!!! - ONLY BECAUSE THE ASPECTS CHANGED.
I will have another update right after market opens on Sunday.

15 nov 2023

Nota

Automatic SL has NOT been activated so both positions are still on the market.
Sell1 was opened on November 1st and sell2 was opened on November 3rd.
The market has gone down to the level - sell1, so theoretically our balance should be positive(sell1=0 pips and sell2 = +49 pips, Total +49 pips).

This is only theory, in practice we have something like SWAP (A SWAP fee in Forex, also known as a rollover fee, is interest that traders pay for maintaining a position until the end of the trading day).

This means that in the case of my trading, after the SWAP fee my 2 positions are at 0 profit. I marked BREAK EVEN level with BLUE line.

Original Take Profit level for sell1 and sell2 are still very far away and can bring really big profits but at this moment, I would like to put on new levels of TP and SL (temporary for TP but auto for SL).

With each subsequent day of holding both positions, our SWAP fee will increase, so the Break Even level will go down to subsequent lower levels.
This will result in less and less profit from both transactions.

By describing this, I wanted each new Forex Trader to realize the risk they take when entering into these transactions.



Warning!!!!
This content should not be interpreted as financial advice.