The GBP/DKK pair has bounced from it's previous move lower and I went long at 8.3170 again I placed a stop 200 pips below and have since raised it to make a profitable trade of 50 pips. I'll see if it reverses it's current downward direction and if it does I think I'm in a good position given the traditional trading levels this pair normally trades at.
Monday, December 15, 2008
GBP/DKK: Long @ 8.3170 - Up 300 pips
The GBP/DKK pair has bounced from it's previous move lower and I went long at 8.3170 again I placed a stop 200 pips below and have since raised it to make a profitable trade of 50 pips. I'll see if it reverses it's current downward direction and if it does I think I'm in a good position given the traditional trading levels this pair normally trades at.
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This pair carries a larger pip spread. Some pairs are not as common as majors and therefore brokers charge a larger spread. Although this can be a bit of a nuisance, many of these not so common pairs swing and move in larger ranges, enough to make up for the extra spreads.
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