Posts Tagged Trading
![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, as per my previous post, I mentioned that I did trade. I like breakouts so this is very similar to what I was doing before except that rather than taking the low and the high between 4 - 7am UK time, I am taking the low and high of a much higher time frame... 9pm to 9am. I then do the same thing, buy when the upper barrier is breached or sell if the lower barrier is breached. The target is the size of the band and the stop loss is the other side of the range. I wouldn't trade though if the
June 9, 2010
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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
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