What is the New York Box Strategy?

This Forex strategy is pretty simple. I have back tested it with some impressive results. I will now start trading live and post my results here for all to see, evaluate and comment.

The Strategy: Click here to read about my Strategy. Strict Money Management Rules is the ONLY Holy Grail in Forex. See how I play this game.


Monday, December 8, 2008

8 December

From 7-9 p.m Singapore Time as shown on the graph;


Click to see a bigger picture:





High Price: 1.2881
Low Price: 1.2842
Difference between High Price and Low Price
= 1.2881 - 1.2842
= 39 pips

Therefore,
Stop Loss = 39 pips
Take Profit = 39 pips

(Risk Reward Ratio = 1 : 1)


How the Trade Went

Price hits my Take Profit before 1859 p.m. the next day. :)

Thus,

Entry = 1.2881
Stop Loss = 1.2842
Take Profit (Target) = 1.2920


Monday Result: 39 pips - 7 pip (Spread) = 32 pips

Loss: 32 pips x $0.25 = $8
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