Monday 15 September 2008

Price Volatility + Tight Stops = Bad Trade Monday

Late Session
No. of signal recommendations: 1
End-of-session results:
Crosses: GBP/JPY (+155 pips !)

Unfortunately, I had my first trade of the week with the EA. It was an exact opposite of what we had last week.
My own EA trade entry level was poor this time round, and was affected by the sheer price volatility seen in today's action. I blamed the latest financial turmoils . There was a big price difference between the manual entry level and the EA setup. As a result, those who entered at the start of the trading session got a good paid off.

These results would definitely put me on guard in the coming days. Perhaps this would help too - Losing trades and how to cope - I will consider to lower my risk limit to a low 1- 2.5% per trade for now.

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