On August 11, 2013, we received an Ichimoku multiple time frame buy on the currency EURGBP for the Forex market. Here is the email and chart setup:
To keep our risk low, we setup 2h trade. The entry would be 0.8605, initial stop of 0.8624, and a preserve mode value of 0.8556. This would give us a max initial risk of 19 pts and a min. reward of 49 pts. This would give us a 2.5:1 reward/risk ratio i.e. 257%. Our trading plan dedicates we can only take a 3:1 reward/risk so we “walked away” from this trade.
The trade entered and quickly went to preserve mode. There was a big spike which would gave us a 25 pips in total.
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