Journal Of BGX Forex Trading System
Trading GBPUSD October 05, 2007
Trade 1
Daily open | 2.0877 | |
Cross / bonces wma | 2.0876 | Time : 07:30 GMT |
Forex signal | Sell | |
Damiani volatmeter | Trend formed | |
Relative strengh index | Below center | |
Entry point | 2.0825 | Time : 09:00 GMT |
Stop loss | 2.0844 | Above wma 100 |
1st lot target +15 pips | 2.0844 | Time : 09:05 GMT |
2nd lot target +30 pips | 2.0844 | Time : 09:05 GMT |
3rd lot target +50 pips | 2.0844 | Time : 09:05 GMT |
4th lot target Folow price | 2.0844 | Time : 09:05 GMT |
Forex trade result | Loss | |
Pips Result | 76 pips |
Note:
Wma bounces at 2.0876. original entry must be at 2.0846, but it was to close wma 100 line. After saw that 2 candle has cloesed below wma 100. Sell Stop order placed at 2 pips below previous lower candle at 2.0825. Entry point was hit but price without gave a chance, reversed and hit stop loss. Result -76 pips
Wma bounces at 2.0876. original entry must be at 2.0846, but it was to close wma 100 line. After saw that 2 candle has cloesed below wma 100. Sell Stop order placed at 2 pips below previous lower candle at 2.0825. Entry point was hit but price without gave a chance, reversed and hit stop loss. Result -76 pips
Trade 2
Daily open | 2.0877 | |
Cross / bonces wma | 2.0876 | Time : 07:30 GMT |
Forex signal | Sell | |
Damiani volatmeter | Trend formed | |
Relative strengh index | Below center | |
Entry point | 2.0820 | Time : 09:30 GMT |
Stop loss | 2.0844 | Above wma 100 |
1st lot target +15 pips | 2.0805 | Time : 09:40 GMT |
2nd lot target +30 pips | 2.0790 | Time : 11:30 GMT |
3rd lot target +50 pips | 2.0820 | Time : 15:10 GMT |
4th lot target Folow price | 2.0820 | Time : 15:10 GMT |
Forex trade result | Loss | |
Pips Result | 45 pips |
Note:
After reversed and hit stop loss. in 5 minute chart show that doji star shown on level 61.8% fibonaci retracement. It was good signal to place another trade. Sell Stop order was place 2 pips below previous lower candle at 2.0820. Price hit entry point fastly and then 1st and 2nd target reached. 3rd and 4th lot was closed at b/e. Result 45 pips.
After reversed and hit stop loss. in 5 minute chart show that doji star shown on level 61.8% fibonaci retracement. It was good signal to place another trade. Sell Stop order was place 2 pips below previous lower candle at 2.0820. Price hit entry point fastly and then 1st and 2nd target reached. 3rd and 4th lot was closed at b/e. Result 45 pips.
