Friday, June 17, 2011

Trade but against the rules



This higher low just above 4300 was a 100% system trade. 1hr up, 15 min positive close higher low little/no upper wick but I couldn't take it. At that stage price had already exceeded the 5 day ATR. If we had a bigger portion of the move fine then I would continue to take system trades, however we only had a fraction of move from Mrs V's trade and I was not prepared to risk that. 100 pips up I'll risk 15 on a system trade when ATR exceeded, less than 30 up then I won't. That's a rule we work to.

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