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Tuesday, February 24, 2009

Update: Daily TF Positions All Closed

I finally closed all the positions after 2 weeks with a total of 1164 pips, 480 pips on U/J and 684 pips on G/J. I closed U/J below the target (95.00) because it has failed to reach that level again today. I decided to exit on G/J as well. Below are the daily charts.

I feel good that I can hold those positions. It's like an achievement, considering that I suck at holding positions and couldn't stick with my own plan. And I think the key to that is knowing the risk and then calculate the size for each positions. There was a drawdown for about 300 pips before both of the pairs go up again.

As for the hourly signals, I missed two signals on Friday. At the moment I have E/U long (which is a bad signal) and waiting for G/J to touch the 30 EMA. Okay..happy trading traders!

Friday, February 20, 2009

Update: Daily TF Positions

I closed U/J position yesterday with 241 pips and still hold another U/J long at 89.84 and G/J long at 131.04. The target is near for U/J, which is at 95. However, I'm considering to leave it open and set SL at break even. Both G/J and U/J are around 400 pips so far and probably will retrace down. Honestly, I'm not sure what to do, close or leave them open. I think I'll wait for tomorrow, see what happen. Anyway, I was just testing the method on daily TF and the priority is still 1 hour TF.

Okay..tomorrow is my last exam :P wish me luck! :)

Saturday, February 14, 2009

Daily TF Entries

I entered UJ and GJ based on daily TF on Tuesday and Wednesday. I never cross any daily signal before and I thought it was worth to try :) Below are the screenshot. The thing with daily signal is the SL range: it's wider. It was 200 pips for UJ and around 500 pips for GJ. Hence, the quantity were smaller. And because I never done this before, I lower my risk percentage by 50% and the quantity became even smaller. However, I use the other 50%. I added a position for each pair. I closed GJ second position with 259 pips and decided to leave the other three positions for next week.

Okay, if the higher TF signals are more reliable than smaller TF, maybe I have to apply a new rules: avoid 1 hour TF signal if there is (or will be) a signal in 4 hour TF and avoid 4 hour TF signal if there is (or will be) a signal in daily TF.

Daily TF or 1 hour TF?
I still prefer 1 hour because its faster turnover. I haven't done any backtesting to find which of them gave higher return actually. Hmm..okay thats all. Have a nice weekend guys :)