Pickpocket Traders listen up: Lock in gains of 109% on the USD/ZAR, 34% on EUR/GBP and play it safe and lock in 14.7% in 7 days on Bidvest!
Trader X was locking in some super profits for his pickpocket traders. Here’s his last update he sent to his traders in 2023. If you’ve ever wondered what pickpocket trading is all about then read this…
Date: 28 December 2023
Dear Pickpocket Trader,
Just a quick note today.
New Year is around the corner and my currency positions are moving into the money.
I don’t want to give back the gains I’ve made so far, so I’ll be placing three protective stop losses today.
This hasn’t been my best trade of 2023 and yet it’s now back in the money.
As I said in my previous update (21 December 2023), I wouldn’t be picking up new positions on the EURGBP.
The technical pattern I was expecting to play hasn’t materialised, so I’m now happy to look for an exit.
Action: Move Take Profit to 0.8700. I’m looking to exit over the next few days and this will bank +34.60%.
The USDZAR pair is bouncing all over the place.
It’s mostly been in the money since I opened the position at 18.30, but the channel is narrower than I’d anticipated.
In fact, as I mentioned previously, I had almost decided to adjust my stop loss to bank profit, but decided to give it some more time.
Today, time is up.
I could have traded off the 18.30 level multiple times, and we’re already deep in the money at 18.55.
Action: Move Stop Loss to 18.50. This will secure a +109.29% profit on the trade.
The currency is currently well above this level, and if the US dollar keeps appreciating I might be locking in more profit.
Bidvest (BVT) trade
I opened this position just three days ago but I’m already +27.27% in the money.
I’m going to tighten my stop loss and protect downside on the position.
Action: Move Stop Loss to R249.00.
This will secure a +14.87% win, but gives the position some space to move higher. It made a high of R254.00 today, and we might see more upside tomorrow.
Standard Bank (SBK) trade
My short Standard Bank position has also triggered its protective stop loss.
I was happy to earn the SWAPs on the position (which I’ve done) but wanted to exit if we saw a strong move above R200.
This has now happened, and we’ve triggered the stop loss at R206.50.
This represents a -66.54% loss. Losses are part of trading, and I will be re-assessing the idea in the new year. I might want to enter higher up again.
That’s it for today.
Have a lovely new year and all the best for 2024!
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