Posts Tagged currency
![11th June GBPUSD - 4 to 7 trading system]()
Today, the range bars was rather narrow... just 30 pip range which is tiny...
The upper range line was 14737 and the lower bar was 14707
The market did break towards the upside triggering the long.. however, the target was 14767 but the highest it reached was 14759 before it collapse. This meant a 30 pip loss. However, the short which followed was good netting 30 pips resulting in a stratch trade day.
I have decided that I need to be disciplined and this involves trading the system tire
June 11, 2010
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![The original breakout system and trading it...GBPUSD forex trading]()
As I mentioned in previous posts about the breakout system that I had been trading and losing faith in it. I have to distinguish between them as they are both breakout systems.. I'll call them the 4 - 7 trading system and the 9 to 9 breakout system to signify the time range for drawing the upper and lower lines.
So, I'm talking about the 4 - 7 trading system. As previously mentioned, I was losing faith in the system and didn't trade it yesterday. This proved to be a mistake as the system did
June 10, 2010
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So, after a period of losing trades, I decided not to trade the system today. However, to see how well it fares regardless of whether I trade it or not, I want to still continue to follow it. In trending markets, I suspect that it works rather well but when the markets are a bit uncertain, is when I don't do so well. If I can figure out when to not trade the markets, then I can continue with the system.. I do like it's simplicity and the fact that it's fire and forget.
Anyway, I didn't trade
June 9, 2010
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