£20 to £50K forex trading challenge – up to £22.76

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Today I took 2 trades, the first trade was a eur/usd buy position.

It hit the stop loss, but after that, it went up in the direction I was in!

As the challenge guidelines state to keep the stop loss at 15 pips. I stuck to the guidelines to minimise my losses.

In this case, the price action pullback hit my stop loss and then went up to the original trend direction.

I then entered a 2nd trade, a usdchf sell position, this was a winning trade.

So from the 2 trades, 1 loss,  1 win, but overall I still won for the day, as I recovered my losses and made a little bit of profit:-)

Balance is currently at £22.76

Lesson learned, to keep stop losses low and take profit levels higher, this way, even on days where you’re 50-50, you still win.