Signal valid from 12.30pm GMT until 1.30pm GMT
SELL USDJPY whilst it remains above 115.00 during the next hour
SL: 20 points above entry (+ spread)
TP1: 114.55
TP2: 114.05
TP3: 113.55
Close 1 unit at TP1 and move SL to break even on other 2 units.
Close 1 unit at TP2 and move SL to TP1 on last unit.
Re-assess any remaining open units between 9.00pm GMT Sunday and 7.00am GMT Monday
Post ID: 56
DISCLAIMER:
COMMODITY FUTURES TRADING COMMISSION FOREX, FUTURES, AND OPTIONS TRADING HAS LARGE POTENTIAL REWARDS, BUT ALSO LARGE POTENTIAL RISK. YOU MUST BE AWARE OF THE RISKS AND BE WILLING TO ACCEPT THEM IN ORDER TO INVEST IN THE FOREX, FUTURES, AND OPTIONS MARKETS.
DON'T TRADE WITH MONEY THAT YOU CAN'T AFFORD TO LOSE.
THIS IS NEITHER A SOLICIATATION NOR AN OFFER TO BUY/SELL FOREX FUTURES OR OPTIONS.
NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHEIVE PROVIDES FOR LOSSES SIMILAR TO THOSE DISCUSSED ON THIS WEB SITE.
THE PAST PERFORMANCE OF ANY TRADING SYSTEM OR METHODOLOGY IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
CFTC RULE 4.41:
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
We entered trade at 115.22 at 12.33pm GMT
TP1 target was hit at 2.05pm and stoploss was moved to 115.12 on remaining 2 units. (locking in a minimum 87 pips for this trade so far)
We will re-assess this position at the London marlet open.
Comment by admin — November 4, 2007 @ 17:36
With price currently around 114.20 we have moved stop loss on the 2 open units to 114.60.
That locks in 191 pips so far with potential of another 150 still possible.
Comment by admin — November 5, 2007 @ 12:03
Unit 2 reached Take Profit target of 114.05 at 2.30pm GMT
Moved Stop Loss on last unit to 114.45
That makes 184 pips banked and a minimum 77 pips more locked in for the last unit. Plus the potential of 90 more to come should we reach the TP3 target of 113.55
Comment by admin — November 5, 2007 @ 15:02
We stopped out on the last unit for a 77pip profit.
Total profit on the trade: +261 pips
Comment by admin — November 5, 2007 @ 15:30