Following the GBPJPY trading strategy listed earlier, with a few modifications and using an expert advisor, we will post the results on a daily basis. This strategy is by all means, not the holy grail, but has a lot of potential. Remember this is for demo purposes and should not be traded without the proper knowledge. We started with a $5000 account, so let’s see where this takes us.
Our settings are a little different since we are looking for the larger moves. We set our target profit at 185 pips and our stop loss at 51 pips. We also have a trailing stop of 88 pips.
On February 19, 2008 we had one order that triggered short. Today, was one of those days, where the target price was only 5 pips away, only to retrace back to our trailing stop. What did we learn here? Don’t let the 5 pips get you angry, always stay positive. Yes, we almost had another 130 pips in the bank, but when you can get a positive trade with 50, you can be happy as well.