A Great Post Vacation Start
by Trader Rich
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.