The conditions did not line up for the 9:30am GBP/USD long trade. Next trade: the 12:30pm GBP/USD long trade.
The conditions did not line up for the 12:30pm GBP/USD long trade. Next trade: the 3pm GBP/USD long trade.
My timezone has changed, did yours too recently?
Looking forward to a great week of trading!
We moved one hour back on Sunday, 11/06/11. 
The conditions did not line up for the 3pm GBP/USD long trade. Next trade: the AU open EUR/USD short trade.
The conditions lined up for the AU open EUR/USD short trade. Here is the setup:
Entry Price: 1.3773
Exit: at the open of the 7:30pm CST bar
S/L: 1.3813
TP: 1.3763
Based on current price levels, I recommend taking this trade with a lower lot size.
Good luck!
The AU open EUR/USD short trade reached TP. Here is how the trade played out:
Entry Price: 1.3773
Exit Price: 1.3763
Trade length: 3 bars
Profit: 10 pips ($100)
That’s all for today folks. I will update the board in the morning; good luck in the overnight session!
Good morning all,
The conditions lined up for the 7am EUR/USD short trade this morning. Here is the setup:
Entry Price: 1.3789
Exit: at the open of the 11am CST bar
S/L: 1.3849
TP: 1.3769
Happy trading!
What changed on the 7 AM trade? I checked the post and it said it did not line up for the trade. Just curious.
Yes, I made a mistake on the first post and corrected it a few minutes later. Sorry for the late update…
The 7am EUR/USD short trade did not reach S/L or TP and the conditions did not line up for the 9:30am GBP/USD long trade. Next trade: the 12:30pm GBP/USD long trade.
The conditions did not line up for the 12:30pm GBP/USD long trade today. Next trade: the 3pm GBP/USD long trade.
Hey folks, sorry for the late update. The 3pm GBP/USD long trade was stopped out and the conditions did not line up for the AU open EUR/USD short trade. That’s all for the day, have a great evening and I will update the board in the morning :).
Good morning friends,
The conditions lined up for the 7am EUR/USD short trade this morning. Here is the setup:
Entry Price: 1.3654
Exit: at the open of the 11am CST bar
S/L: 1.3714
TP: 1.3634
Based on current price levels, I recommend taking this trade with a lower lot size.
Good luck!
The 7am EUR/USD short trade reached TP this morning. Here is how the trade played out:
Entry Price: 1.3654
Exit Price: 1.3634
Trade length: 0 bars
Profit: 20 pips ($200)
Next trade: the 9:30am GBP/USD long trade.
The conditions did not line up for the 9:30am GBP/USD long trade. Next trade: the 12:30pm GBP/USD long trade.
Hi there,
This may sound silly but I cant help but wonder why your stop loss in some cases is 40 pips and TP is 10? 2 loosing trades would be equal to 8 good ones right?
I know you have got to let it breath but shouldn’t it be the other way round, so that 2 winning ones would be equal to 8 loosing ones?
Thanks for the question rxtricky,
I have actually answered this question many times throughout the course of this thread. Under normal circumstances, yes, you will always want your TP to extend beyond your S/L. However, the difference in these trades are the exact entry and exit specifications. What this means is that we are not simply taking a position and holding onto it until price action reaches our TP or S/L. We exit at a pre-determined time, regardless of price action.
What generally happens is that you have a much greater probability of reaching the TP before price action ever has a chance to reach the S/L; this offsets the “first glance” appearance of unnecessary risk. Each one of these trades has withstood the test of time and provide the most statistically sound points of entry and exit.
Hopefully this helps!
The conditions lined up for the 12:30pm GBP/USD long trade. Here is the setup:
Entry Price: 1.5951
Exit: at the open of the 3pm CST bar
S/L: 1.5921
TP: 1.5961
Happy trading!
The 12:30pm GBP/USD long trade was stopped out, but conditions lined up for for the 3pm GBP/USD long trade. Here is the setup:
Entry Price: 1.5928
Exit: at the open of the 7:30pm CST bar
S/L: 1.5902
TP: 1/5938
Happy trading!