EUR/USD Long Trade With 10 Pip Stop Loss And 150 Pip Take Profit

30 May 2017, 08:34
Ahmad Hassam
0
97

EUR/USD is a great pair. Most of the time it doesn't move.

But when it moves it easily moves 150-200 pips.

When you are trading EUR/USD make sure you avoid entering the market when it moves sideways.

If you have been reading my blog, you should by now know that I take risk management very serious.

For me, 15 pips is the limit. Even 20 pips is too big for me.

How do I achieve this? I do it by using pending limit orders to enter the market.

You can read this post in which I explain in detail a recent EUR/USD long trade.

This EUR/USD long trade had a stop loss of 10 pips. I had used a pending buy limit order to enter the market.

I use candlestick patterns to project profit targets. Read the post in which I explain how I do it in detail.

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