Okay guys, so I just really want to talk you through the process of what happens after waiting for an hour, and the trade hasn't gone anywhere. And that's the process of literally just cutting it out for either a loss or a profit, whatever the trade is showing at the time will cut it off because if a if your currency pair hasn't moved in the direction you intended, after an hour, then really it doesn't look likely that that is going to happen. So what we want to do is take the risk off the table bank, any pips that we've made, and look for the next opportunity. So the trading event that I took a trade off the back of was this CAD data here 130 today on July the 20th wholesale sales, which isn't a massive market moving event. However, we are experiencing a lot of weakness on the Canadian dollar right now mainly because of last week's rate cuts which was very, very bearish for the Canadian dollar.

What we had was an expected nought point 1% And the actual figure came in at minus 1%. So a much, much worse figure. So we've really aligned aligning the two where you had some short term bad data to combine with the bigger picture, which is also bearish on the Canadian dollar. So I was looking to pair that on the against the US dollar. So looking for a buy trade on dollar CAD. So if we go to the charts, we can see that so as you can see here, I took a trade about an hour ago on dollar CAD at the following price just around about 2984.

As you can see, the markets really done nothing for an hour and we're showing a small profit of around about two pips. So what I'm going to do is literally just close this trade out. And as you can see, we made a small profit on that, but nothing major. Essentially what we wanted to see is the market start to convincingly move in our direction, which if you get your plan, right, and the markets listening to that particular piece of news, it really should go and not look back. If it hasn't then obviously We want to reduce our risk. So I've taken the trade off the table for a small profit in that particular example.

And it's just an easy process of closing the trade out. So this video is really just to demonstrate what you need to do after an hour. If the trade hasn't gone in your intended direction. That's really to take the risk off the table either take the little bit of profit you've got like I had in this particular example or take a loss which is smaller than the 80 pips, which is our original stop loss level, which is a marvelous thing if you take any trade, if you cook any trade for less than the originally intended 80 pips that's a wonderful thing because it means that we're keeping our losses small mean when we have those really good trades, they'll cover our losses and generate our profit. So as a quick demo, just to summarize this particular process,