Friday 1 April 2011

The SAS Trader : Friday Review. Going into the real world

Hello and welcome to today’s adventures in the Forex Jungle. This is the final virtual trial blog.

Well the virtual trial period has ended with a whimper. On logging in and checking the charts, I was confronted with mixed signals. The main 15 minute chart was indicating a climb in the pair, as was the 5 min chart. The 1 hour chart, however, was pointing in a southerly direction.

As the pair was trading above the daily pivot, I followed the 15 minute chart and entered a long @ 1.6065. As my confidence wasn’t 100%, I set a tight stop loss at 20 pips, and I was glad I had done so when I seen the price plummet just prior to the news release at 09:30. The plunge occurred 5 minutes before that! Just who is feeding who here!

As my weekend starts around lunchtime on Friday, I thought about a quick damage limitation trade, going short and following the data on the hourly chart. But sense took hold and I decided to take the knock on the chin. Like I said yesterday, it doesn’t really count anymore. It’s only virtual, and the account ended the trial at £925.00 (Damn!).

The system has proven itself as workable over the last 9 or 10 weeks. I’ve talked the talk, now it’s time to walk the walk. Let’s see what happens when it gets a proper run out in the real world starting Monday 4th April.
Until then, have a good day on the platform, and have a great weekend.

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