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April 16th New Swing

Posted on April 15th, 2008 by Jafar

Short NZD/CAD

I’m in at 0.8013 with stop loss at 0.8088 - 65 pip trailing stop.

This is a small lots position with a 100-150 pip expectation.

Marc // Apr 15, 2008 at 11:24 pm

Does short mean sell? Because If you bought at 0.8013 and the SL was 0.8088 wouldnt the stop loss be profit?
Thanks,
Marc
Din // Apr 16, 2008 at 12:55 am

Hi there Marc,
I think that you have misunderstanding the concept.
If we sell (short), it is common that our stop loss is higher than our open price.
And the profit target is must be lower than our open price.
Can you see the idea?
Marc // Apr 16, 2008 at 2:28 am

So you sell it instead of buy it. “Sell Stop”?
Mdshamz // Apr 16, 2008 at 5:36 am

huuh??…
Jafar // Apr 16, 2008 at 6:34 am

Sorry for the confusion. I normally say buy/sell instead of long/short so as not to confuse the newer traders, but I was a little tired last night. I’m at +20 with this one so far. Hopefully we will take some profits by the end of the week.
Marc // Apr 16, 2008 at 7:40 am

Thanks for the help everyone!