Holding the Floor

Citi is holding the floor at $4. It came down from $4.38. As long as it holds the $4 floor, it should be a good day. The account is up over $600 with this $4 floor. I am deciding whether or not to sell right now. Depending on the news tomorrow this could either go up a lot or plummet.

On good news, Citi could go up to $5 and we could reach our profit target.

On bad news, Citi could also go down to low $3, or even into the $2's. I am going to evaluate our selling point later in the day, around 1pm. I may just sell at around $4 and take in the profits we already have. I like to play it safe and news trading is risky.

I also shorted the EUR/USD this morning at 1.345 with 500 lots and it is currently at 1.3408. I have about a 50 pip profit right now. I hope to close half of the trade around 1.3375 to pic up an additional 20 pips. I will close the entire trade at around 1.334. Making a few dollars here and there.

With the Forex account we can make a lot more money, but it is going to take time for us to build up to that point. When we started trading stocks we took small profits and are now snow-balling into $100+ trades the same thing will happen with the Forex account. Once the Forex account reaches $1,000 we can start a broader trading pattern. Shorting EUR/USD while going long in the USD/CAD. For right now I am concentrating on one angle at a time.

I will keep this updated with our progress.

WIWS
Disclaimer: These are not recommendations to buy or sell. Invest at your own risk. Where Is Wall St. is not responsible for your own decisions.