EURCAD 17/09/2010

Sell Entry: 1.33961 x2 contracts

Stop Loss: 1.34357 x2

T/Profit: 1.29358x2

Trailing Stop: 30 Pips

Potential Loss: 39Pips x2 = 78

Potential Profit: 460 Pips x2 

Reason for entry: Overall downtrend and there is a channel 

Reason for T/Profit: Next support line at 

1.29358

Reason for Stop Loss: Next resistance line at 

1.34357

Reason for Trailing stop: 

Result: 
Stopped at: 1.29358
Loss: 78 Pips

Thoughts:

19/09/10 - I think this is a good setup. I believe I did not give a larger Stop Loss and I should. I will put on the same again tomorrow morning. The mistake I made, I believe, would be the stop loss. I should maximise it to a total of 300 pips. And that is the max risk i am willing to trade (1%x account balance)