Pound Yen Trade Day One
February 19, 2008
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.
Cable Yen Trading Robot | forexnewstrader.com says...
March 6, 2008 at 3:35 pm
[...] Not too much action on the pair. Most likely some consolidation before the NFP number comes out. We took one loss, but we are still in the green after 13 trading days. No complaints, No emotions, just waiting to see what this thing does. The chart graphics are getting pretty big, so we’ll only be showing the last few trading days. If you want the story from the beginning you can go to the first post Pound Yen Robot Day 1. [...]