2010-08-26 EURUSD Live Trade

(This is a live trade shared by Eric Lye in his Forex Trading Blog.  The purpose is to share how we trade and provide the learning points.  Note that there is no absolute right or wrong about a trade, it is all about managing it well)

This is not my trade. It was a trade being done by one of our member in our meet up group.  The position was already taken to sell EURUSD at 1.2715.  We talked about the confirmation of the sell but it did not happen.  Instead, invalidation sets in.

Thus, by identifying invalidation.  We can get out of trade with smaller loss than plan, which contributes to our bottom line.

ERUUSD 2010-06-26