Posts Tagged forex
![The 9 to 9 trading system]()
So this is the official name for my new system that I am running on the blog. I call it 9 to 9 as it draws the high and low of the chart movement between 9am and 9pm GMT time. The breakout system then goes long if it breaks the upper bar and short for the lower bar.
I traded it yesterday for a healthy profit. This system has a higher pip stop than my usual system so each trade is half the usual size which amounts to around 5% of my trading pot, money management is important!
So today, the
June 10, 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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