OMG ! We just missed out on a HUGE downside move (i.e. of more than 100 pips!). I have always used a conservative trailing stop level for the 2nd position. Thus, this time round, I only managed to squeeze an extra 20 pips on top of the first targeted 25 pips. Some did better than me, with +36 pips on the 2nd position.
Anyway, I am going to make it into a flexible strategy for the 2nd position. Soon, you can either use my default level, set your own desired level or even make it into a risk-free trade with predetermined target level.
A profit is always a profit. The news trading results for this month so far currently stands at +149 pips from a total of 4 executed news trades. To find out how to trade my news alerts via EA program, simply visit my News Trading Room for more info.
Upcoming news events:
Friday - CAD Employment Change & Ivey PMI, US Non-farm Payrolls (NFP) Job report
Previous postings:
Making Pips from News Trading - CHF (Swiss) CPI (Sept 2, 08)
Making Pips from News Trading - CAD GDP & US Chicago PMI (Aug 29, 08)
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