Trade Update - USD/JPY Short CLOSED

Update 03-13-08 7am:
What a trade this has been. The final 2 lots hit their stop loss, but I stil made a lot of money in this trade.

Lot 1 (closed at 10pm): +150 pips
Lot 2 & 3 (closed at 5:40am): +200 pips (100 * 2)

Total Pips: +350
Total Profit: $348.47

Again, had I not had the stop loss, I would have probably made more money in this trade. But I am not going to get too greedy and just take what I can get.

Update 03-13-08 12am:
What a fantastic trade this has been so far. This trade was in the money right from the start and looks like it will continue making me more pips. I closed one lot for a +150 pips gain. The remaining 2 lots are currently trading at +126 profit. I have a stop loss now set to collect +100 pips on the remaining lots.

Due to the success of this trade, I have opened 2 other trades using this system. Lets see how successful they are.

The Trade:
This trade is based on a new system I came across today called the Heiken-Ashi Smoothed (HAS) system created by Steinitz. I am just borrowings his ideas, and like other systems I use, just modified or loosely trades based on that idea.

I will write about this system in detail, but in the meantime, this is how the trade looks. As you can see, the last 2 candles in the HAS indicator (in the chart window) shows red, and the lower indicator shows red dots on multiple time frames. This says its a strong down trend and safe to enter short.


Lots: 3
Entry (Short): 101.66

I do not have a stop loss or target point for this system as I exit the position when the signal changes. Again this is purely experimental, but I want to see how my ROI is with this style of money management and the risks involved.