Just for record:
April Earnings: -462pips
April Earnings: -462pips
- #96
- Edited 11:05am May 4, 2007 10:41am | Edited 11:05am
here were the levels today...
would have been nice if i were able to trade today
I would have come out of my lot 4 on the previous trade at about 1.9862 so that would have given me some extra pips for that trade,
then i would have entered 3 lots for a buy signal at 1.9858 then moved stop to breakeven at 1.9878 and taken profits at 1.9898, then i think that price action went a little crazy w/ ups and downs at the big news release which was bad for the US (another reason why this would have been a great trade).. so the 3rd lot would have probably been stopped out at breakeven or for +10 pips
all in all it would have been a good trade, but sometimes its good to take a break and concentrate on school, cant afford to skip classes now w/ finals comin in just over a week
But the great news out of all of this is that there still has not been ANY LOSING TRADES yet and its been just about 3 weeks of backtesting/current using of the system
would have been nice if i were able to trade today
I would have come out of my lot 4 on the previous trade at about 1.9862 so that would have given me some extra pips for that trade,
then i would have entered 3 lots for a buy signal at 1.9858 then moved stop to breakeven at 1.9878 and taken profits at 1.9898, then i think that price action went a little crazy w/ ups and downs at the big news release which was bad for the US (another reason why this would have been a great trade).. so the 3rd lot would have probably been stopped out at breakeven or for +10 pips
all in all it would have been a good trade, but sometimes its good to take a break and concentrate on school, cant afford to skip classes now w/ finals comin in just over a week
But the great news out of all of this is that there still has not been ANY LOSING TRADES yet and its been just about 3 weeks of backtesting/current using of the system
- #97
- May 4, 2007 10:48am May 4, 2007 10:48am
- Joined Mar 2007 | Status: Trader | 7,195 Posts
here were the levels today...
would have been nice if i were able to trade today
I would have come out of my lot 4 on the previous trade at about 1.9862 so that would have given me some extra pips for that trade,
then i would have entered 3 lots for a buy signal at 1.9858 then moved stop to breakeven at 1.9878 and taken profits at 1.9898, then i think that price action went a little crazy w/ ups and downs at the big news release which was bad for the US (another reason why this would have been a great trade).. so the 3rd lot would have probably been stopped out at breakeven or for +10 pips
all in all it would have been a good trade, but sometimes its good to take a break and concentrate on school, cant afford to skip classes now finals w/ finals comin in just over a week
But the great news out of all of this is that there still has not been ANY LOSING TRADES yet and its been just about 3 weeks of backtesting/current using of the system
3 weeks is not long but its certainly a very good start!
Is it going to be your policy to trade in front of big news days/times?
Cheers
PS I'll be listening to that webcast in 15 mins, so far I am very impressed with their software. Will keep you posted but certainly looks like I'll be opening accounts next week.
Hey David,
I like to get into the trade a couple hours before the news release because i mean those are the times that the most profit is made and fast.
Generally, what i like to do is, enter the trade at least like an hour before and if the trade is positive then i will move the stoploss to breakeven 1 to 2 mins before the release.
If it is negative then i will move my stoploss to 10-20pips below/above (depending on whether im buying or selling) so my draw down wont be as much. Also i will just keep my initial stoploss if price is close enough to it before the news release.
This also all depends upon how strong the news events are and how many there are simultaniously.
I look at it this way.. im risking an extra 10-20pips to either make probably more than that withing a couple mins, or im breaking even for a possible higher earning, or my trade will be saved if im at the point where im at 10-20 pips w/in my initial stoploss at the release time... its a little bit of a gamble but not enough to scare me away, i kinda like the rush feeling too
I like to get into the trade a couple hours before the news release because i mean those are the times that the most profit is made and fast.
Generally, what i like to do is, enter the trade at least like an hour before and if the trade is positive then i will move the stoploss to breakeven 1 to 2 mins before the release.
If it is negative then i will move my stoploss to 10-20pips below/above (depending on whether im buying or selling) so my draw down wont be as much. Also i will just keep my initial stoploss if price is close enough to it before the news release.
This also all depends upon how strong the news events are and how many there are simultaniously.
I look at it this way.. im risking an extra 10-20pips to either make probably more than that withing a couple mins, or im breaking even for a possible higher earning, or my trade will be saved if im at the point where im at 10-20 pips w/in my initial stoploss at the release time... its a little bit of a gamble but not enough to scare me away, i kinda like the rush feeling too
