I got many questions on how I managed the BEOB Daily Cad. I thought I would share them here.
I closed my 1st half for 27 pips and my 2nd half was closed at break even.
I do think that this is a high quality setup, is it an A+ setup? Probable not due to the traffic and I would have liked to see the swing High higher , like at the 1.1000.
I could have done the free trade approach, meaning the 2nd half stop loss placement would be -27 pips for a net zero result, but I did not. I wanted Price to prove that this setup had the momentum to get through the minor trouble areas in blue.
Those of you that have taken it with their stop loss above the BEOB, it is a valid placement. I do believe it will hit the 1.0500 before it will it the 1.0700. But then again maybe it won't.
My trading stlye is very comfortable to me. It allows me to place an order on a setup with a very good chance that my worst outcome will be a "no loss" trade. And my best outcome will be riding on a runner.
Believe me, when I turn off my computer and go about my business (or sleep) I never have to "worry" that my trade is say -148pips and growing.
Just some thoughts.