59 pips

October 26, 2006 by Trader Rich 

I had a decent trade today catching a lot of the GBP/USD move upward during the European and US Session.  I only traded 1 lot since this was a discretionary trade but nevertheless profited 59 pips.  The H-system didn't generate any signals because of rare Asian session movement.  My discretionary methods do have rules but are not as systematic as the H-system.  I feel like my personality is more geared toward systematic methods of trading and therefore trying to systematize if possible is ultimately my goal.  

I feel like my confusion earlier in the week has waned.  I'm committed to trading the H-system and I'm working hard to manufacture additional systems that could eventually be used in production.  Mike sent me an email yesterday stating that he has had instances, as I'm sure a lot of you have, where he has suffered over 10 consecutive losses.  At no time though did he feel confused because he trusted his system after backtesting it on 10 years worth of data and therefore considered it just part of trading.  He never doubted his system.

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Comments

One Response to “59 pips”

  1. forexrookie on March 25th, 2007 5:07 pm

    Me and you both buddy.., i snached 53 pip from the gbp/usd lastnight too.

    the trade was on the basis of a new system im developing, it includes using, price,pivot points along with trend lines. and fib retracement and expansion. and also macd and/rsi to spot dicergence.
    The aim of this system is to eliminate lagging indicators an much as possible.
    the way i figure is this, im always using these indicators with my other trading system*which works really well*for confirmation, so i figured, why not create a system form these confirming indicators..so thats my little venture…

    neways it good to hear that you are making money again..just remember to stay foused..one day success will come. Heres a article i think youll find intresting.

    http://money.cnn.com/magazines/fortune/fortune_archive/2006/10/30/8391794/index.htm

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