Tuesday, April 24, 2012

I have been trading again since last Monday and bar the odd losing day this system continues to perform. Take yesterday as an example. The range was approx 40 pips and I still easily took my 25 pip target. I have refined my entry strategy and now only use the hourly chart. The downside is I do miss trades, however, my strike rate has improved. The reason I have done this is it cuts out a lot of the “noise” that the 10 – 15 minute candles provide. I get a much more accurate idea of what the market is doing. I also now religiously check forexfactory for news items and make sure I am not in a trade during a high impact item. Finally I am now much less reliant on Jason’s daily heads up e-mails. I can quickly locate turning points and this is just something that comes with practice and time in front of the markets. Not much fun to begin with but the potential pay off is huge along with the fact you will save money on the monthly fees for Jason sending the information out.

I will be wrapping up the blog this Friday but you can be assured this is going safely in the Approved section of the website.

Filed under General by Jonathan Wakefield