Wednesday, December 26, 2007

Update for 20071226

Preface:
  • Going to try a new money management strategy to see how well it works. Unfortunately, the way my demo account is setup, it is risking too much on one trade, so I won't be able to do it like this in a real account until the balance rises a bit:
  • Initial position will be 3 whateverlots, exiting one on a normal exit signal, moving the remaining stops to break even, exiting a second lot once we have another 100-200p profit depending on local S/R, and trailing the third 100-200p until it gets stopped out.
Current Positions:
  • USDCAD: short profit sitting at +322
New Positions:
  • EURUSD: Long at 1.4485
  • AUDUSD: Long at 0.8729
Pairs to watch:

  • USDCHF: going down? Short soon on the daily, we'll have to see if the weekly turns down around that time.
  • USDJPY: keep an eye on it
Images:


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