Fxfan,
Perhaps you can include a chart(s) to show us how you are incorporating Feb's sytems.... the say a picture is worth a thousand words...
EUR/JPY: +95 pips
AUD/USD: -40 pips and to be honest, this is a loss that I would love to have because it was after so many successful trades and tought me a valuable lesson as well.
I am attaching here EUR/JPY chart to explain how I mix up the techniques.
In this chart, you can see that EUR/JPY is showing uptrend in 4 hours chart. and therefore I considered only long trade but here is the trick, rather than jumping in at anytime, I waited for a retrace ment to happen.
I don't know how to add many things on charts like some of you guys, so added simple 4 lines ( in red) to show you where I entered.
You can see in the chart that EUR/JPY went up to 125.04 in the 3rd and 4th candle in the chart. then retraced back to 124.14, now I would want a bullish candle to close higher than opening price of previous bearish candle for an entry. (sort of engulfing)
In the box , you can see clearly that one big bullish candle which closes at 125. That is my entry point since it matched my criteria. Now, stop loss is the bottom of the retracement which is 124.14 + - 3-4 pips. and my target is 126 keeping in mind 1:1 ratio.
I hope I have managed to explain my strategy.
One more thing, I had +95 pips on this trade and -40 pips on AUD/USD. therefore, my profit should have been +45 pips right. But my profit is only +15 pips. Do you know why????
. 255 pips. SL adjusted.
