Simple Forex System Trading

For the month of February, EUR/JPY 30/30 system has not been performing well.  The trading pattern seems to have changed.  Normally, this pair was used to be able to produce 30 pips or more of the action to the up or down side at around 7:00 GMT.  However, after 2/11/08, it stopped behaving so.   Except on 2/13 I placed a trade and it got me a +30 pips, and then on 2/17, I got a double whammy, a -60 pips result, I pretty much stayed on the sideline.  For the month of February, the result ended with a negative 60 pips.  Had I traded regularly, the result would have been a very disappointing negative 180 pips.

What this pair has been doing was it would break to the up or down side for just about 10 or 20 pips at around 7:00 GMT, and then it went into a consolidation phase.  That was when the stop loss got hit.  Later on, either during the late European session or the US session, the pair resumed its earlier direction.

I found this trader’s blog and he was talking about the same thing.  He is also trading this pair plus a couple of other JPY crosses.  He mentioned that the best performing pair, EUR/JPY, turned to the worst during the month of February. 

March did not open with a successful trade either.  Today was another -30 pips hit.  I am still confident with the trading system.  The challenge continues.