Quick live trade update for the 8th of the 4th 208 and I just wanted to show you something that we've been looking at in the room in the Aussie franc you can see we did have a position we've been in this down since around 0.7 4:50 in the oz and Frank and what I wanted to show you guys was something we talked about in the room and that is that risk to reward and this is something that people don't really consider but something that you should consider is that risk to reward changes.
And it becomes dynamic as the trade develops so a lot of people see risk to reward is quite static but actually it's a dynamic principle and one of the things that we discuss in the room is well which I just wanted to run through just to give you guys a little bit of information to help you out is that something you should always consider is that if we're in a position like this and you can see this is on the real account currently we're up around just over a thousand dollars on this trade but if you're in this position.
And we just quickly flick over to the connect feature here you can see later on in the Tokyo session we actually have employment data coming out of Australia now this is important because what this means is that there is an increased risk of a turnaround or a reverse or some volatility at the very least in the Aussie franc so when you get yourself into a position like this.
And you're approaching a piece of fundamental data one thing to consider is that our risk reward at the moment up to our target and it's about $,700 profit target up here you can see is about 36 pips but all the way back down if we were to keep our stop here is 64 so you're actually at this point risk in 64 pips to make 35 now some people get a little bit confused as well with this and they start to move their stop up very very tight and end up getting stopped out but a good rule of thumb is when you get yourself into a position like this.
And you have a news event coming up there's nothing wrong with moving your stop and you don't move your stop too early this is another make traders make them go through this in the live ones movie your stop up to above or just that breakeven so you are no longer taking lopsided risk to reward looking for the profit target on that track so with that guys I hope this was a little bit of helpful information for you again if you are interested in taking opportunities like this and this was one we actually looked at in the live room you can see we've got a few other live trades open here from the live rooms as well why not head over to port X markets.
And see the link in the description below and the librarians are completely free we teach our traders how to do these capture these moves completely free we don't charge any subscription for the live rooms or anything like that so if you are interested why not clicking the link in the description below to find out more so with that guys I hope you'll have a fantastic week don't forget we have Canadian interest rate decision today Pass 3:30 something to watch out for if you're trading the cab bears and apart from that I will see you all soon bye for now.