Gbp/usd

MysticalTrader

Active member
165 1
Nice to not always be making bad judgements. Just closed out 2 positions in GBP/USD for a nice 42 pips. One of those occasions when I went in slightly too early, then opened a second position at the bottom and judged the exit just right.

Think I will sit the pullback out and try to catch the next wave higher.

MT
 

TheBramble

Legendary member
8,395 1,171
Are you trading any of the systems already discussed on these boards or one of your own devising?
 

MysticalTrader

Active member
165 1
Hi Tony

I did get a basic forex strategy from the board but on this occasion was using a trend/channel strategy. I am sure it would have a name but I dont know what it is... just trading the ups and downs in a channel. Working better for me than most of the other strategies I have tried...

MT

TheBramble said:
Are you trading any of the systems already discussed on these boards or one of your own devising?
 

TheBramble

Legendary member
8,395 1,171
You mean taking a short on the bounce off the top with an exit at the bottom and a Long off the bottom with an exit at the top? Or do you 'tweak' it a little more than that?
 

MysticalTrader

Active member
165 1
That is pretty much it, I caught it bouncing off the bottom and opened long. I dont go against the trend (missed an 80 pip drop 5 minutes ago because of that), so longs only if the underlying trend is up and vice versa. I am very inexperienced really and trying to find a reliable way of taking a little out of the market. This looks promising but I am sure I will learn more as time goes past.

MT

TheBramble said:
You mean taking a short on the bounce off the top with an exit at the bottom and a Long off the bottom with an exit at the top? Or do you 'tweak' it a little more than that?
 
 
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