Once back home, the recap:
We only had two signals today within our trading time zone: both on cable.
GBPUSD was a sell at 1.7257 (14:30CET). Made a low at 1.7256 and then went up crossing 50EMA to 1.7288. A lost of -22 pips. I have said that we should avoid news time. Inverseind hardly validated that trade.
GBPUSD was a buy at 1.7288. Made a high so far at 1.7463. That is +175 pips.
Total= +175 pips.
When I meant predefined, I meant for example, bank 1 lot after 20 pips. Than another at say 35 and let the other run with trailing stop. Move stops to breakeven at the same time as banking 1 lot. That is what I meant. I am just explaining what I meant and don't mean to sound prescribtive.......Thanks.
As I said, I trade multiple lots at a time. I have not established any rules about where and when to start closing some of them. I like to feel the mood of the market. I like to see if we have speed or not and so on.
Today, for instance, I bought cable at 1.7309 (I was late) and my 5 lots are still opened. As it has made a high at 1.7463, that means I had +$7.700.
I'm going to close 3 and I will let 2 opened with target at 1.7531 and s/l at 1.7423.
Cable needs to break now 1.7475 and hold above 1.7459 if we want it up. Level to watch is 1.7424. As far as it keeps above 1.7424, it will keep going up.
OK thanks Nina.....but now I see the beginning of the end of it being "the easiest system of the FOREX world." I am still fascinated by it though and thanks....
Almost 5 years I've been trading Forex. That time gives you "knowledge" or it should. CatFx50 makes money 98% of the time. It is free. You have a powerful entry. You only need a EMA and an indicator (a filter) to validate the cross. That's all you need. Now we are tweaking the exit. We'll make it. Sure.
Hi Nina .. what was the report today at 13:30 GMT .. my service didn't mention any .. did I miss one ? This is the service I use:
Can you tell us how you came to this conclusion then we can learn to do this ourselves
good target in cable
hi dear nina,good your target in cable at 1.7531 , this morning hit new max at 1.7536,and next down,a question,how make you to see this target yesterday night?
Sorry. 14:30CET is a very sensitive time. No news yesterday at that time. You are right.
Hi, archimede and Billm!
High (bid) on cable has been 1.7532 so far. Just a pip above my target.
61,8 fibo from 1.7808 is 1.7542. I always deduct some pips .
Levels to watch:
EURUSD must keep above 1.2003 and 1.1965 if we want it up. While it keeps above those levels, EURUSD is set to go to 1.2302.
USDCHF must keep below 1.3041 and 1.3080. If it does so, next will be 1.2743.
GBPUSD must keep above 1.7459 and 1.7424. If it does so, next big one will be 1.7760.