DDFX Forex System – 22nd to 26th August 2011 – Back to Winning
After last week I was cautious… trading systems in my experience don’t work in all market conditions so when you get a poor trading week you know that the market dynamics could have changed. I’m more cautious when this happens and my way of testing the market is to scale down my trading and hence my choice to trade only the GBPUSD forex pair this week to see if we get a positive result.
Anyway, I’m glad to say that the week was positive, if only just! It gives me a bit more confidence to trade more than the one forex pair but we’ll see.. it was just only positive!
The first signal was a short at the start of the week which immediately didn’t go too well. My expectation with the price action is pretty much a move quite soon after my entry but this wasn’t to be the case. It lingered higher and I got out as soon as the first signal to exit came. I was 35 pips out of pocket immediately, not a good start.
The second trade was a long trade and the market moved higher immediately which is the expectation… I soon move my stop to breakeven (didn’t want to risk any chance of a loss) and unfortunately, this got hit and therefore I ended up with a breakeven trade.
Third trade was on Wednesday and the price moved lower almost immediately (this is what you should expect) and I rode it for 74 pips. I got out after the first blue bar appeared.
On Thursday, I had an order to sell on the break of the low of the signal bar.. I’m glad it didn’t trigger as it would have been another loser.
My last trade came on Friday, I’m not too keen on trading quite later in the day at the end of the week so I watched this trade and move the stop as soon as I could… this was lucky as the market moved higher and I got out with a scratch trade.
So it was a 39 pip profit this week…. not great but at least not a loser but it could have easily been a losing week (particularly on the last trade if I hadn’t quickly moved my stop to breakeven)
To learn more about the DDFX Forex Trading system click here
