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Followed the Rules and Won |
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Tuesday, September 19, 2006 |
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I've followed my new system (h-system) loss yesterday with a win today. I followed the rules without any deviation by capturing 108 pips essentially negating yesterday's loss of 111 pips. This was a great trade except for 1 frustrating moment when my exit of the first 2 lots did not execute immediately even though it was more than 20 minutes after the economic release. This delayed execution actually turned out better for me this time because if the trade did close when I wanted it to, I would have made 60 pips on the first 2 lots. Instead, it exited minutes later for a 78 pip gain. The last lot was up as much 50 pips but it couldn't push any higher. My trailing stop was hit and my last lot closed with a 30 pip profit.
I feel real good that I didn't do anything stupid like closing my position too early.
As I write this, it seems like the GBP/USD has some major profit taking going on right now and the pair has reversed almost to my entry price so my exits were perfect.
Since I started trading my new system last week, it has generated a total of 5 trades, 3 of those being winners, 1 being a mistake (loss), and 1 being a loss. My average winning trade has produced 114 pips and the average loser, 61 pips. This is not quite 1:2 risk/reward but close.
FOMC tomorrow...
Forex Trading
h-system
september 2006
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Last Updated ( Tuesday, September 19, 2006 )
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