Thursday, November 13, 2008

Lock it in

6am open 14885
There was an inside bar from the 5am and 6am bars but i didn't catch this
We're still in our trade and the market made a new low with the 7am bar so moving stop
New stop 15082 (15254-14910 = 344 /2 = 172)
WE now have a buy signal
9am bar 14893 - 14993
10am bar 14905 - 14951
So stop buy order placed to buy 5.4 contracts at 14955 (293/54 = 5.426) Stop loss at 14901
I have used the previous balance as our profits from the short trade have not been booked yet.
I have now moved the stop on the short to 14955 as this is a reversal signal.
We are now out of our short GBPUSD for a hefty 817 pips and have gone long at 14955
This trade has returned 14.85 times Risk:reward and a handsome profit of $4330.1
so our account balance is now $14099.25 so we're up over 40% after 3 trades, what a shame it's a demo.
RECAP
NO trades 3
Losers 2 -$496.35
winners 1 +$4330.1
Total +$4099.25
Average +$1366.41
I'm sure this will average will come down over time, but at the moment it's nice!
and lo and behold...it did
Quick in and out, stopped out of long GBPUSD at 14901 for $300 loss
RECAP
NO trades 4
Losers 2 -$796.35
winners 1 +$4330.1
Total +$3533.75
Average +$883.43

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