RRR with MUT without Limit *sob*

Hi All,

Newbie is a newbie :) I used RRR (SHORT) with Opposite direction (LONG) supposingly MUT on NZD/USD yesterday for the very first time. Quite proud of myself.

*ALAS* I never set the 20 pips limit on the SHORT position, hence what happen was this. First, LONG Channel Breakout and the price got rejected, as the close is lower than the breakout level. RRR comes into action. We are to get in with a SHORT position immediately. I got in without using a MUT on SHORT. On Courtney's teachings, RRR we are to set up 2 more waiting position on LONG if the prices shoot all the way up breaking the high of the rejected bar. 1 position supposingly with MUT. Hence, I set up 2 more position on LONG with 2 contracts each.

Prices overnight shoots all the way up. My SHORT position got stop out. My two positions of LONG got activated. With luck, one of position hits the limit of 20pips and got out. Hence, my loss is minimized. *phew* Thanks to MUT. BUT overall, the LONG position is also negative when I close the position. Hence, I should have set a MUT for the SHORT position to reduce the loss too! *SOB*

Anyway, this is a good lesson for me. And I will be doubly careful the next time round :) BUT the good news is that overall I am still positive - all my open position inclusive I am still at about $630! Thank you Universe! My money works hard for me and makes me more and more money!

Your Friend,
Max Tay