Steve,
When you first said this the other night I doubted, then tested and made a £45.00 profit on 0.01 lots which equated to over 650 pips! Unreal....
Then there is that mother of all trades above (AKA my Fcuk up) where effectively I didn't listen to my own advice, entered when I shouldn't have, and was going to kill it off at -£30, but I went for Steve's Law 100%......
... as you know it got as far as -£92 (there was only £112.00 in the account) hence why I nearly got a margin call...
Faith held and it came back... all the way down... and I had doubts it would make it.... but it did.
Got as far as +£22, but closed for +£11 on the profit jumping stop.
So I think you may be right... start at either end of the scale and hold you breath....
Eddie
When you first said this the other night I doubted, then tested and made a £45.00 profit on 0.01 lots which equated to over 650 pips! Unreal....
Then there is that mother of all trades above (AKA my Fcuk up) where effectively I didn't listen to my own advice, entered when I shouldn't have, and was going to kill it off at -£30, but I went for Steve's Law 100%......
... as you know it got as far as -£92 (there was only £112.00 in the account) hence why I nearly got a margin call...
Faith held and it came back... all the way down... and I had doubts it would make it.... but it did.
Got as far as +£22, but closed for +£11 on the profit jumping stop.
So I think you may be right... start at either end of the scale and hold you breath....
Eddie
DislikedIn my last post, I wrote this:
"At some point, those of us blindly following Steve's Law will find ourselves with a basket being rapidly left behind by a currency rapidly moving in the 'wrong' direction'.
Or does it?"
Every day this week, I have followed the xxxJPY range highlighted by KG's KG RS JPY Group indi, expecting the range to be broken as some stage. This has not happened. OK, no reason it should not happen, just that it hasn't yet.
I would have been happy to accept this were it not for the performance of the long-term demo account...Ignored