Simple Forex System Trading

Short this pair at 0.8800 during the London session.  The stop loss was set at 0.8850, and take profit at 0.8750.  During the late NY session, the U.S. Dollar dropped sharply and this pair went up to 0.8840 before it retreated.  It’s been around 0.8820 since.  I think I’ll leave the stop loss and take profit unchanged for now.  See what happens tomorrow.  Friday is always interesting and unpredictable.

Closed the trade this morning because I didn’t want to leave the position opened over the weekend.  The stop loss was almost hit during the London session.  The high came at 0.86548, less than 2/10 of a pip shy from the stop loss, 0.8655.  I use Oanda though.  Results can be different by brokers.

Trade was closed this morning at the entry point, 0.8605.  Pretty much breakeven except for a few dollars of interest payment.

The short position was opened yesterday at 0.8605, with take profit and stop loss at 0.8555 and 0.8655.  Over night, the price dropped as low as 0.8578 before it reversed.  Currently, it is at 0.8615 level.  Still waiting.  The divergence still looks fine.

Three days in a row, we have positive results with the EUR/JPY 30/30 system, and we are done for the month of August.  The rule specifies:

Trading limit: Between the 1^st and the 14^th, whenever the total number of wins reaches 3, trading stops. If it never reaches 3, trading stops after the 14^th regardless.

So, we’ve made 90 pips during the past 3 days.  That’s about 8% gain for the month.  Not too bad at all.

Regarding the Awesome Oscillator divergence trading method, there hasn’t been any trades available for quite a while.  Still waiting.