First Trade 1 PIP Profit!

April 25, 2006 by Trader Rich 

OK.  I closed out the GBP/USD position with a 1 pip profit for 2 reasons:

  1. European session is over
  2. All major currency pairs are consolidating in expectation of US economic reports this morning.

I couldn't set the limit to close out the pair at break-even so I performed it manually.  That is why I profited 1 pip.

Good thing I did.  The pair moved upwards 20 pips right after I closed it.   

I'll regroup and see if any setups emerge during the next couple of hours.

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