While I was out taking care of some errands, the Oz went ahead and broke higher, achieving risk-free status on the second leg in just over an hour. Nice!
I've needed to remove the stop-losses since OANDA consolidated both legs into the same position. I've placed orders to flatten 1/2 the position at the breakeven on the 2nd leg (0.6885) and the original entry point on the 1st leg (0.68136). This will lock in 1/2 the risk on the 1st leg as a gain. ($22.71 or 7.50% of starting equity)
Current open equity: $393.93
Starting equity: $302.87
Current position: Long 4542 AUD/USD at 0.6876 (avg.)
Current exposure: Locked in $22.71 or 7.50% of starting equity
Tuesday, November 4, 2008
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