Update 04-02-08 12:30am:
I decided to enter one final trade before hitting the bed, but it turned out badly and got stopped out. Luckily I entered with just 3 lots for this trade. Here are the results.
Total Pips: -150
Total Profit: $148.19
Update 04-01-08 11pm:
I re-entered this trade once again and made another quick killing. This time, it took just 20 minutes to make the 300 pips. Here are the stats for trade 2.
Total Pips: +300
Total Profit: $295.58
Update 04-01-08 10pm:
Has to wait almost 6 hours to get the 200 pips on this trade. But as long as I see green, its all good. The trend is still valid, so I might look to re-enter this trade.
Total Pips: +200
Total Profit: $197.34
The Trade:
Going long the GBP/CHF pair.
System:
Based on the A-MACD system on 4 hour charts. But its also signaled by the OzFX and Elite systems.
Reason:
The setup looks good and the indicators line up. I probably entered the trade a little late. But given below are the charts for the trade. As before, I am looking for a quick 50 pip profit and going in with a large lot.
A-MACD (4 hour):
OzFX (Daily):
Trend(daily):
HAS(4 hour):
Elite(1 hour):
Rating:
I would rate this a 4 star. Even thought we are a little late, we have confirmation from multiple systems. One drawback is that the price is below the 200 SMA. The other drawback is the size of the spread. Its close to 7 pips, and that can be the difference between hitting my target point or not.
Entry & Exit:
Lots: 10
Entry (Long): 2.00175
Stop Loss: 1.99675
TP: 2.00675
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