May 11, 2006

3:00 pm EST: +0 pips
Beta: +0 pips

Ok so I missed out on a very nice trade today because of my news filter. However, I think the filter will pay off in the long run by saving me alot of lost pips because news days tend to spike out my trades.

8:30 am EST- News candle. No orders entered.
Price never went back into my range. No orders entered.













*Today is a news day so don't place your orders until 8:40 am EST. Read the first post for the rest of the rules for trading on news days.

8:00 am EST- Trades

Long Trade:
Entry Order: Buy at 1.8688
Stop Loss: 1.8607
Target: 1.8810
*Move stop to breakeven when price hits 1.8746
**Beta- Close 1 lot when price hits 1.8745 and move last lot's stop to breakeven


Short Trade:
Entry Order: Sell at 1.8532
Stop Loss: 1.8612
Target: 1.8410
*Move stop to breakeven when price hits 1.8474
**Beta- Close 1 lot when price hits 1.8474 and move last lot's stop to breakeven


Happy trading!