Trading the News Redemption
by Trader Rich
With the threat of falling to unprofitability after 4 weeks of automated news trading via FXEngines, redemption prevailed this morning.
My automated moderate trade entered long on the EUR/USD at 1.2724 at 8:30:58 and closed about 15 minutes later at 1.2759 for a 35 pip profit.
So after 4 weeks and 17 trades, I'm up 48 pips. I remain suspicious of this method of trading but it makes me realize even more how important risk and reward are. Typically a losing news trade will cost me 10 pips. In 4 weeks, I have 7 wins and 10 losses for a win percentage of roughly 40% yet I remain profitable.
I'm done trading for the week. It's time to take an overdue weekend break. We have the 4th of July holiday on Tuesday of next week so I'm not sure when I'll jump back into the market.