Bit late posting today - late night last night but did manage to drag myself out of bed at 8am to put trades on.
Got whipped about with USDCAD yesterday and lost 51 pips. Bit annoying that GBPCHF came so close to my order then shot up. Has not been the most auspicious start to my journal but I have to remind myself of the very good results I had last nov & dec.
I've decided to go back to paper trading this method while I do some more research on exits and stops and one lot but at differing %s of equity. My trades today reflect this experimentation. Here I put stops at 50%ATR(20) and no t/p. Stops will be moved the following day if still on.
Have to say, great work by poek with his/her spreadsheet - very interesting indeed!
Anyway here are two trades I took today following a cross. I didn't take poek's trades as I don't follow those pairs.
Trade 8
GBPUSD
in at open: 1.9444
s/l: 1.9374
I see some upside potential here with fundies - even though it's under the tunnel.
Trade 9
GBPJPY
in at open: 234.18
s/l: 233.34
Rejoining the strong upwards trend, has bounced off the tunnel.
All the best
Michael
Got whipped about with USDCAD yesterday and lost 51 pips. Bit annoying that GBPCHF came so close to my order then shot up. Has not been the most auspicious start to my journal but I have to remind myself of the very good results I had last nov & dec.
I've decided to go back to paper trading this method while I do some more research on exits and stops and one lot but at differing %s of equity. My trades today reflect this experimentation. Here I put stops at 50%ATR(20) and no t/p. Stops will be moved the following day if still on.
Have to say, great work by poek with his/her spreadsheet - very interesting indeed!
Anyway here are two trades I took today following a cross. I didn't take poek's trades as I don't follow those pairs.
Trade 8
GBPUSD
in at open: 1.9444
s/l: 1.9374
I see some upside potential here with fundies - even though it's under the tunnel.
Trade 9
GBPJPY
in at open: 234.18
s/l: 233.34
Rejoining the strong upwards trend, has bounced off the tunnel.
All the best
Michael