Simple Forex System Trading

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.

Finally.  The take profit target was hit.  It was a long wait, but it happened at last. 

Previously

The divergence existed for quite some time in this pair yesterday.  I finally shorted at 0.8645.  Stop loss was set at 0.8695, and take profit at 0.8595. 

Update

Well, I didn’t.  They all happened when I was sleeping.  But if you caught these, good for you.  These were great profitable trades. 

I didn’t enter the market last night because the divergence did not occur. 

Previously

Looks like there may be an opportunity to sell Dollar Yen later.  Right now, it is trading at 96.75.  I will watch this pair for the next few hours to see if the divergence holds.

Update on 7/1/09

Last night, the divergence occurred at around 6 AM GMT.  I placed a limit buy order at 131.70; however, the market turned higher and never looked back.  The order was never filled.

Well, the stop loss was hit.  The position was closed with a -100 pips loss. 

Previously about this trade