EURGBP signal of 03/07 has closed at BE

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EURGBP signal of 03/07 has closed at BE

Post  Lightcycles on Mon Mar 08, 2010 8:44 am

Hi Levaz,

I've put the 4 signals of 03/07 as pending orders (all limit orders) with TP of 25 and EURGBP closed in 7 minutes at BE. Have removed the TP on the other three orders for now just to see the potential (trading on a demo account for now).

Thanks,
Alex

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Re: EURGBP signal of 03/07 has closed at BE

Post  Levaz on Mon Mar 08, 2010 9:33 am

That is the one drawback of using the trailing stop, and such a tight one.
The normal daily range for this pair is around 50 - 60 pips. We do have days with >100 pips, but that is when there is big news and the news event outcome is rather drastic. Therefore, a 25 pip stop would be very tight.

The benefit for you is that we are now in a slight drawdown of 1 - 3 pips, while you are now safely out. Typically, the trade will turn a profit, as all our trades carry a greater than 80% probability of ending up in a profit.


Lightcycles wrote:Hi Levaz,

I've put the 4 signals of 03/07 as pending orders (all limit orders) with TP of 25 and EURGBP closed in 7 minutes at BE. Have removed the TP on the other three orders for now just to see the potential (trading on a demo account for now).

Thanks,
Alex
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Re: EURGBP signal of 03/07 has closed at BE

Post  Levaz on Tue Mar 09, 2010 11:02 am

We closed out for a 40 pip loss, see the benefit of using a trailing stop. Smile
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Re: EURGBP signal of 03/07 has closed at BE

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