I got back from my mini-vacation on Sunday and started to get back into the swing of things with the Forex world last night.  I've been testing a system of mine that has well defined rules for a while now and decided last night to put it into production.  Right now I'll just call it the H-system and it only involves trading the GBP/USD.  It turned out to be a nice winner for me today:

2 lots profited 30 pips each for a total profit of 60 pips or $600.

1 lot profited a total of 43 pips or $430.

Maybe this long overdue vacation was needed because it's nice to come back and make my biggest profit on 1 trade in a long time, $1030.00. 

I'm remaining cautious though since this was the first day I traded the H-system with real money.  I had a post last week where I had come to the conclusion that I must have well defined rules for a particular system that are not deviated from.  This is not a discretionary system but does require manual intervention for stop loss placement once the position is open on the first 2 lots and stop loss placement and target limits for the 3rd lot.   

I'm still trying to catch up on a lot of emails and other things so hopefully I'll have some more posts in the near future. 

Read or add comments about this item.

No. 1 :

Hi Rich,

Being an aspiring fx trader myself, I have been constantly checking your blog for the frequent and selfless info you've been posting..

Let me congratulate you on today's impressive results - I am sure that with all your hard work and diligence, one day you'll wake up and say to yourself: "Hey, I think I GET this!".

Good luck.

Submitted by Forex Trader • 2007-02-10 00:00:14

No. 2 :

Thank you. The nice words are always welcome and it's comforting to hear that others are listening. I wish you the best of luck also in your trading. Hopefully we can both become successful doing what we love.

Submitted by Rich • 2007-02-10 12:54:53

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