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High Price: 1.2776
Low Price: 1.2659
Difference between High Price and Low Price
= 1.2776 - 1.2659
= 117 pips
Therefore,
Stop Loss = 117 pips
Take Profit = 117 pips
(Risk Reward Ratio = 1 : 1)
How the Trade Went
Price hits the high price from 10-11 a.m. New York Time. (10-11 p.m Singapore time)
Thus,
Entry = 1.2776
Stop Loss = 1.2659
Take Profit = 1.2893
Between 12 - 1 a.m. , Price hits my Take Profit.
Monday Result: 117 pips - 7 pip (Spread) = + 110 pips
Profit: 110 pips x $0.25 = $27.50
3 comments:
impressive.. let's share our trading strategies. i trade on a demo account and i managed to make $10,000 profit out of the downward of EURO this day (went short EURO/USD at 1.29 and collected profit after 7 hours at 1.26).
i hope we can chat about our experiments soon
wow...
I am not so daring yet....
I only dare to trade $0.25 per pip
Basically...I hope to become more comfortable with this system and really get a feel for how the market moves.
That is why I am maintaining my 100pip profit target per week.
Can you maybe share with me the system you use if you have any?
Oh yea, usually at 9.30 pm Singapore time, there are high market impact news releases. I check it out at babypips.com under their tools section.
I have started trading live and everything you see on my blog is the results of my live trading. I know I will see a losing trade soon but if my backtests are reliable, I am learning to embrace my losses as they come and STICK with my system.
Nice talkin to yea Nikey. Please do come back and share with me your stories...and if you can see anyway my system can be improved.
I'm from Singapore by the way. Where are you from?
regards,
Hi,
I followed your system but used GBP/USD. Looks like every monday, your system works great on GBP/USD. Check i out yourself. Every Monday has been a winner for the last 2 months for this pair if Im not wrong. Ok, I will see you trading here and check out the reliability of your system.
thanks for reading.
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