Hi all, well Day 2 of the new system, and already a few flaws are becoming evident. The main problem with it was in it's trend identification, basically it failed to recognise the underlying trend in a currency pair, instead indicating the short term trend which was pretty obvious from the price movement anyway so it served no purpose. I made some adjustments later in the day for that, and as you can see this time, it seemed to pay off.

Primarily I traded in the Asian session, with a dabble in the US session as well, missed most of the European session as I had to make some dinner and live a life away from the computer for a change, funny that. The Asian session was quiet once again, while the US session really swirled around like a washing machine. For anyone who read my article on when to trade take a note of the opening of the European and US markets, where once again prices when a little crazy.

Main thing learnt from today? Patience, trust your system, but make sure you have a stop loss in place just in case, too many times today there were messages from users who lost 50% of their account and were still in the trade!

Ok above are my results for the day, coming soon will be a Theory article on Stop Losses so keep an eye out for that. If there are any other topics you would like covered, just add a comment below and I'll see what I can dig up.

Today's result: +26 pips | Overall: +1 pips

This entry was posted on Wednesday, September 14, 2005 at 1:39:00 AM. You can skip to the end and leave a response.