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Archive for 26/10/2009
New approach with Black Dog Forex
26/10/2009 by admin.
After having trebled my account trading the ‘hi/lo’ system with Black Dog it may seem a bit strange to be changing my method slightly but i wanted to find a way to trade which suited me a bit more.
Trading the 6 currencies on short term trades was a but too hectic so i’m now trading the MTF3 signals on just the GBP/USD & EUR/USD. I’m going to just record the number or pips made or lost rather than cash amount because everyones pip amounts are different so the cash levels irrelevant.
The chart below is the eur/usd - to be fair its a fantastic trade to start the new method with but this type of big movement is flagged up a few times a month on both of these currency pairs so its not that unusual.
Profit taking wise i’m aiming for 20 pips then close 2/3 of the trade for 13 pips profit and let the rest run - closing the trade if the price closes in the ma’s at any stage or the end of the session at 18.00.
This trade gained the initial 13 pips and then ran on to make a further 43 pips - less 2 earlier losing buy trades for around 30 pips left us with 26 pips profit for the day.
+26 pips
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