Not to cause any misconception
I will use this journal for trades that I take on the EURO and POUND. It will more be for record keeping, but discussion will be accepted if any one wishes to partake. The only thing that I ask is that we keep it to the point. Humor is always accepted and appreciated.
System = Method Money Management Trader #8211; tx Daillist
My Method is an EMA RSI cross over trending System around the 1hr charts but works on any other timeframe and currency pair with or without less or more whipsaws.
Yes just another one of these, but it is good for me. I have clear entrance and exit points which take out any and all emotion involved if followed to the #8220;t#8221;. It averages /- 25 pips on a commerce.
The System has been tested for a month in real-time and during news. During news I continue with the trend, but will have a stop loss on profit already revealing.
I#8217;ll constantly input according to the under rules but will have a 30 pip hedge on the Euro and also a 50 pip hedge on the Pound for sudden changes, this typically doesn't get picked up.
5/6 x upward 13/21 is upward RSI21gt;50_______Long
5/6 x down above is true______________Exit
5/6 x up again above is true__________re-enter
RSI21 drops under 50 under 50ema______exit all L-Hedges
and Visa Versa for Short
http://img2.freeimagehosting.net/uploads/6f56c8a128.jpg
Ranging markets is and will always be a problem
Trades will be presented in the following manner
Time: xxxx GMT 2
Direction: Long/Short
Entry: x.xxxx
Exit: to trace
P/L: to trace
And edited exit
Thanx