Friday, July 23, 2010

Exit strategy

Mrs V has agreed to a slight TP change as we are missing out on way too many big moves.

7-9 am gmt exits will be taken at key levels due to the small ranges in Frankies hour that typically exist.

After 9 am gmt we will look for the FH/LO range to break (there is typically a head fake move in that time). Once that has happened we will look to bank 50-75% of trade at a key level, stop to BE. We will look to re-enter with full trade size hl/lh's in line with move. Again exiting 50/75% at next key target. Moving stop from original position along.

This alows scaling without risk exceeding 1.5%.

We will endeavour to trade through news events.

This may only be started after August holidays.

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