Posts Tagged breakout

Trading the GBPUSD market – so close yet so far!

Trading the GBPUSD market - so close yet so far!

Today I was a bit unlucky with the markets. I usually take the high and low of the market movement between 4am and 7am but I had set the high at the previous high at around 6am which I thought would be the high of the day. Anyway, if you look at the chart you will see that my trade triggered at 7am for the long which then fell to hit the stop for -40. The short trade also went and it should have hit the target for 30 pips but including the spread and all that, I think I missed the exit by les

June 7, 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

Losing faith in the trading system…. GBPUSD forex trading

Losing faith in the trading system.... GBPUSD forex trading

Well, this is when you start to doubt your system... I started off trading this morning breakout strategy with some amazing success but this last week... couple with my own stupid mistakes of not following the system have really bashed my confidence in the system that I have been trading these last couple of weeks. The morning breakout happened to the downside.. a short at 15321, with the usual 30 pip target and SL at the other end of the channel (60 pips in this case). The short proved to

April 25, 2010 No Comments Full Story

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