1minutedaily - 2 winners for USD/JPY but bad day for GBP/USD

20/04/2010 by admin.

Strange day with the 1minutedaily system today with the USD/JPY closing 2 trades for about a 90 pips but the GBP/USD closed out a 180 pip loser. On reflection i think theres a case to say that the consolidation range was too big as we’re looking for a breakout rather than a daily trend which 150 pips plus would probably qualify as.

Having said that there no mention of filtering out trades when these kind of ranges appear and we’ll certainly take them if they turn out to be winners. Theres also the point that the system comes with a ‘money management’ technique which is basically compounding the stakes using 5% of the bank. What this will do is ensure that your risk is the same however big the range is you’re trading ie bank £2000 X 5% = £100 total risk. 135 pip range = £100 / 135 = .74p per pip.

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anyway here are the results so far;
gbp/usd
9th +30
12th -120
13th +36
14th +75
15th +55
16th +135
19th -180
20th in trade

Total +31

usd/jpy
9th +34 pips
12th no trade
13th no trade
14th -3
15th +55
16th +50
19th +55
20th +45
Total +226

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