Trade Oct 31, 2007

Journal Of BGX Forex Trading System

Trading GBPUSD October 31, 2007

Trade 1

Daily open	2.0678
Cross / bonces wma	2.0686	Time : 06:00 GMT
Forex signal	Buy
Damiani volatmeter	Trend formed	Later
Relative strengh index	Above center
Entry point	2.0716	Time : 08:05 GMT
Stop loss	2.0686
1st lot target +15 pips	2.0731	Time : 08:50 GMT
2nd lot target +30 pips	2.0716	Time : 10:30 GMT
3rd lot target +50 pips	2.0716	Time : 09:15 GMT
4th lot target Folow price	2.0716	Time : 09:15 GMT
Forex trade result	Gain
Pips Result	15 pips

Note:
Wma bounces and price moved fastly but damiani didn't give clear signal to trade even it seem this indicator has shown that cross between red line and green line was forming. The indicator gave clear signal at the next candle. Buy Stop order placed at 2.0716 and 1st target was reached. Market looked too slow so Stop loss moved to break even after 1st target reached. Remaind lots was closed at this b/e. Result for this GBPUSD trade were 15 pips.

Trade 2

Daily open	2.0678
Cross / bonces wma	2.0718	Time : 15:00 GMT
Forex signal	Buy
Damiani volatmeter	Trend formed
Relative strengh index	Above center
Entry point	2.0748	Time : 15:50 GMT
Stop loss	2.0718
1st lot target +15 pips	2.0763	Time : 15:55 GMT
2nd lot target +30 pips	2.0778	Time : 16:05 GMT
3rd lot target +50 pips	2.0748	Time : 18:15 GMT
4th lot target Folow price	2.0748	Time : 18:15 GMT
Forex trade result	Gain
Pips Result	45 pips

Note:
Another chance to trade, when wma 5 cross wma 20 at 15:00 GMT. Placed Buy stop order at 2.0748. Price moved fastly, 1st and 2nd target reached easily. Stop loss moved to b/e. 3rd and 4th lot journey were end at this point at 18:15 GMT. Result 45 pips :)