- 7am - no trade
- 11am - 1 trade
- 3pm - 1 trade
- 7pm - no trade
- 11pm - no trade
- 3am - asleep!
Trade 1 - EUR/USD - Sold @ 1.2392 - 11am Bar - Closed @ 1.2352 = +40 pips
Top reversal at the high of the market, sold and hit the profit target @ +40pips on the lower side of the third bar in the picture. As you can see it travelled further, but this was in keeping with my strategy.
Trade 2 - USD/JPY - Sold @ 91.27 - 11am Bar - Closed @ 90.97 = +30 pips
The second bar represents an upthrust into (relatively) new ground, i sold and decided to take 30pips off it before the end of the 4 hours.
As this week and the start of next are all about honing the strategy i have one more small thing to add to it as outlined in the fifth bullet below. The point i am adding is in keeping with todays trading. I took one trade this morning and hit the profit target of 40pips. At 3pm i saw what i thought to be another good trade and decided to take it. It eventually topped out at about +35 but i took 30pips from the trade as it started to level off.
- Trade on 4 hour charts
- +40 profit target per day
- -50 stop loss max or a few pips above/below previous bar
- Good until 4hrs or Profit/Stop is hit
- If a further strong signal appears after hitting profit target, take the trade with a view to making as many pips as possible. If possible, fulfill the above criteria.
- Day = +70
- Week = +70
- Month = +769 pips
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