Simon Grinter’s Weekly Breakout trade
I mentioned that I went on Simon Grinter’s Forex seminar not so long ago… well, finally, I got a chance to put on his ‘weekly breakout’ trade. I put in an order to go long at 211.05 with a 100 pip limit and stop and waited….
I woke up this morning to find that my trade had been triggered and that I was already 20 pips up. By the time I got to work, my trade was about 70 pips up. There was some resistance around 212.00 so I took profit when it eased off (you never know, it may tank from here) at 211.85 for +80.
However, if I had left it, it would have made 100 pips. If I left a trailing stop in it’s place then I could have been 200 points up at one stage…
Well, this is a trading system and each time you tweak it, you may get better or worse results… the best thing is to just stick with the system as it should make money overall.
If I had done this last week, ie did a trailing stop rather than the 100 pip limit, I would have lost. This trade did make 100 pips last week also but it soon reversed and if you had trailed it, you would have lost.
So, my first Simon Grinter trade and it worked well… to read my review of his seminar, visit:
http://www.makemesomemoney.co.uk/2008/06/10/simon-grinters-forex-seminar/
To test drive his alerts or sign up on his seminar, visit:
http://www.rainbowforex.com/
