Simple Forex System Trading

I have remained on the sideline for a long time, mostly because the spread has been wider than normal.  During the past month or so, the spread of the EUR/JPY pair stayed between 6 to 10 pips on Oanda.  So I thought I’d just keep myself out of the market and see how things unfold before me.

Last night was the first time I re-entered the market after a long period of idle time with two orders, stop buy at 123.43 and stop sell at 122.30.  The stop buy actually produced a profit.  The 30-pip profit target was reached.  However, the sell order produced a 30-pip loss.  So, we are break-even today.

Here we go again - another loss of 30 pips.  This month is almost a repeat of last February and it could be worse.

The stop buy of 156.19 was filled at 7:16 AM GMT and in ten minutes or so, we were stopped out.

We somehow can’t stop the stream of losses.  Today is yet another blow to us.  The stop sell of 155.39 was filled at 9:13 GMT.  The price went as low as 155.21 before it turned north.  It’s another 30-pip loss for us.  We need to get out of this twilight zone fast.

This is a curse.  We had another loss of 30 pips.  The stop buy order of 150.7 was filled at 7:00 GMT.  All it took was one minute and we were stopped out.  Dreadful!

It’s a horrible day.  We got stopped out on both sides, a total of loss of 60 pips.  Terrible!

We lost 30 pips today.  The stop sell order at 147.81 was filled at 7:12 GMT, and it was stopped out about 1/2 an hour later.

We broke even today with our euro yen 30/30 breakout system.  I moved the stop loss too quickly and got stopped out right away.  Had I not moved the stop loss, it would have turned out to be a profitable trade.  The sell stop, 149.60, was filled at 7:11 GMT.  Within minutes, the price went south quickly and was in our favor.  It hit as low as 149.32 (offer) and was merely two pips shy away from the take profit target.  The price began to rebound from that point.  I decided to move the stop loss to the entry point of 149.60.  At 7:19 GMT, only 8 minutes after entering the trade, the order got stopped out - zero pip today.

Our stop buy order, 152.41, brought us a 30-pip profit today.  All it took was only 2 minutes from entering the market to exiting.  Talking about a fast market, it was crazy.