There was a profitable move to the long side. Closed 8 trades: 2 for small loss but overall gain of $12.40 after swap. Decided to close all but one because of the range bound nature of this pair as @Trendswithbenefits noted above. Didn’t want to ride all trades into negative territory again. All trades were entered using stop limit orders.
The last trade was an outlier long very close to the most recent all time low. I didn’t think it would trigger but placed it thinking it was a major level of support and may not go much lower. If it did close the trade. If it “turns” I’m in at an excellent price. It played to my hand and I’m in at an excellent price. This trade is still open.
I have noted that the first grouping of trades could have been closed much earlier for a larger profit if I had a better grasp on price action.
Things to remember for U.S. Account … FIFO!! First In First Out! This is kind of a pain in the butt. Trades must be closed in the order of which they were opened. So I couldn’t bank pips from my most recent profitable trades while my small losses were making gains.
The way to avoid this is if the each order is of different lot size they can be closed in any order. This prompts the question if partial sale of a larger single order can be done if so when. I’ll have to check that out.
This will force me to send a scout trade out, .01. confirm direction and scale in… Mmmm lots to think about - NPI!!!
Here are the 4H and D with the Trades On them.
Edit: Just closed my last trade for 69 pips. No more active trades in AUD/NZD. First excursion into live forex trading I’m in the green.