I made about 150 pips last 10 days

Discussion in 'Forex' started by uninvited_guest, Sep 24, 2005.

  1. I made about 150 pips last 10 days trading EUR/USD and USD/CAD.

    * 8 trades = 7 winners, 1 loser (-12 pips).

    * I'm on the west coast and trades were entered 7pm (10 EST), to be closed when I woke up the next morning 9am (12 noon EST).

    * 1st trade I set the stop at -12 pips and got stopped out, trade then went in my direction. (but too late, position was closed).

    * Next 7 trades I only set a limit, no stop, and all trades were profitable from +88 pips to +6 pips. Some of the trades hit the limit, while I was sleeping, and then retraced. Some trades never hit the limit so I would close them myself at a profit.

    * Top 3 gainers were EUR/USD, next 4 were USD/CAD.

    * I have come to the conclusion that a 14 hour position should have a stop of MORE than 80 pips, or you might get stopped out only to have your postion turn around and produce a profit.

    I hope to have the same results next week.
  2. be prepared for a bad night sometime
    unless you have stops in place ...
    or watch the market overnight yourself
    good luck to you ...

    -Next 7 trades I only set a limit, no stop-