Entries and Exits

I am hoping to address a few items of question over the next seven days.

1 - Trading Rules

2 - Entries and Exits

3 - The Audience

4 - Pronouns

5 - The Current Trade

It's a lot of real estate to cover, but please be patient.

Lets start with #5:

The Current Positions:

Short AUD/USD 0.67292

Short EUR/USD 1.05881

After dealing with these for over a weekend, TP has been set to about 5 pips.

Carried interest on these does provide for a small level of income, but for the size of the positions it would be more beneficial to make daily trades than it would be to hold a carry trade for any long period of time.

The goal is to exit from these trades as fast a possible and as heap as possible.

A few ways to do that would be to take the daily interest made and reduce the position size accordingly.

Another way would be to DCA the position (Dollar Cost Average) to make it more manageable.  

I think we will see how a few days into the week reflect upon the account before any decisions are made.   Presently there is not enough available information to persuade an idea one way or another.

Next up, #2