Wednesday, March 19, 2008

Lotta looking-nothing cooking




Well, As far as the day went, lets just say I could have slept all day and the result would have been the same. But I will take the time to note that as far as the strategy goes, I should have been in a trade @ around 1:15am. As you can see in the charts, The main trend was down (240 min chart) and all signals were go on the 15 min chart. That trade actually would have been stopped out and we would have lost about 34 pips per lot. Honestly, I missed the trade, I don't have a crystal ball..had I seen the signals I would have been in. It's in my best interest to get in on as many valid trades as possible to really get a feel for how profitable it is in my case.
But this brings up a valid point also. I had mentioned that hypothetical results of a strategy vary from actual results. Today is a perfect example of why that is. Today I was lucky to miss the trade and not lose 34 pips, but monday I missed a 71 pip gain (hadn't started this blog yet)
Anyway there was another valid signal at around 5:00 am and this one I did notice, but I did not enter because I don't trade (this strategy) when a major announcement is about to come out and we had the GBP MPC minutes meeting coming out @ 5:30 am. Soooo, nothing there today with the cowabunga system.
Tomorrow is another day. Talk to you then.
Here's how it all went down...(or should have!!)






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