Monday 12 July 2010

GBPUSD - 15Min - Scalp +13

Along with the various trading techniques I'm experimenting with these days, this is my first real documented attempt at using the pip-ware dashboard.

The trend was down and I entered after a long retracement with a big bearish candle, price broke just above the '00' round number so I decided to look for a quick scalp down to the round number.

The trix indicator was bearish + also showing divergence, along with fractals showing bullishness. Made a quick 13 pips.

I'm also experimenting with a trade management EA that :-

  1. Closes 1/3 of the position at 10 pips profit.
  2. Moves the stop loss to BE at 10 pips profit.
  3. Closes 1/3 of the position at 20 pips profit.
  4. Target's 40 pips in total for the final 1/3 with the stop at BE.

I figure even if I'm wrong sometimes this could be a saving grace getting out quickly with small losses or even at BE.

I'm currently short the EUR/USD as well at the moment as part of a swing strategy, more to come when the trade develops (or gets stopped out).

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