My H-system generated a long signal this morning at around 3 am.  I went long 3 lots on the GBP/USD.  2 positions closed out already for a net profit of 60 pips.  The last position is still open at +100 pips with a stop at the last 30min candle low so I'm pretty much guaranteed a total profit of 160 pips on this 1 trade.  

I'll also be trading what I call the R-system which is really nothing more than following the simple support/resistance, fibonacci, wave rules set forth by Raghee Horner.  This system is definately a discretionary system since different people draw different support and resistance lines and fibonacci retracement lines.  I don't follow all of her rules but I used Raghee's as a base for mine.  I'll post these rules later this week.  I've found in my year of trading forex, I always come back to this support and resistance break type system.  

I got a long signal using the R-system this morning on the 4-hour EUR/USD chart so I went long 2 lots with 2 different profit targets.  1 lot has already closed out at a profit of 26 pips.  The other is still open and up about 30 pips so I've set the stop loss to break even.  

So it's been a good day so far before the US session even gets going.  +186 pips. 

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No. 1 :

Congratulations. 186 pips is good going in one day and in your first year. I trust your going sto hut shop for the day. Can you tell me more about your H system please ?

Submitted by Stumpy • 2007-02-11 09:56:18

No. 2 :

All the action happened in the European session today. I didn't trade anything during the US session. If you want to read more about the h-system, check out:
http://www.forexproject.com/H_Trading_System/

Submitted by Rich • 2007-02-11 13:15:14

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