Posts Tagged breakout trading

Bank Holiday Trading the GBPUSD currency market

Bank Holiday Trading the GBPUSD currency market

I don't tend to trade Bank Holidays as volumes are low and traders are generally off taking long weekends. These are times when the markets can do funny things. I didn't trade today but in hindsight, our system would have worked and bagged our 30 pips.  For reference, here is the chart, the upper line is at 14493 and the lower at 14444. The market hits a high of 14550 which is almost 100 pips.

May 31, 2010 No Comments Full Story

Back to it, trading the GBPUSD

Back to it, trading the GBPUSD

I still haven't updated the charts from last week so I'll need to do that still... however, I was excited about trading since the testing has shown the systems seems to be profitable over the long term. You can never be 100% sure of any trade so long as you win more than you lose. Anyway, I have decided that it looks more profitable to put in an order for either direction. I am not doing the OCO (One Cancels Other) trade anymore.. I will buy if the market goes above the upper line and sell if

May 24, 2010 No Comments Full Story

Dangerous ground – didn’t obey the System but made a Profit – GBPUSD currency trading

Dangerous ground - didn't obey the System but made a Profit - GBPUSD currency trading

Today when I had checked the markets, the GBPUSD had already moved up quite significantly.. this made my channel rather wide at 55 pips or so.  I'm always conscious when the market has moved away like this as it should pullback before it makes another ascent. However, the market looked like it was heading upwards so when the market started to pullback, I entered long with a 30 pip stop and a 30 pip limit. My entry was at 1.5453, stop at 1.5423 and target 1.5483. The pullback was deeper than

April 26, 2010 No Comments Full Story

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