Wednesday, October 22, 2008

News Trading Updates: "Hard-fought" Results in Difficult Circumstances

After having two consecutive system losses (which rarely happened) with Newstrader Program, the EA finally pulled back one positive trade with GBP/USD. I couldn't believe the trade entry level this morning was to be found in the 1.6300+ region.

The market was in heavy sell-off mode which started since yesterday evening. This was another volatile market that I had to deal with - no doubt about that! Bear in mind that I was using a conservative strategy which encouraged a minimal drawdown in the first place.

I couldn't believe I was under such immense pressure watching the price ticks after the release of MPC meeting minutes. With the EA in operation, I should be embracing a care-free attitude towards ea trading and accepting all end results positively. But I failed to do that on a consistent basis. Nonetheless, I was relieved to get some positive results in the end.
News event: GBP MPC Meeting Minutes
Long GBP/USD @ 1.6392 for +25 & 39 pips


2 comments:

tahoemnts said...

You stated that, "Bear in mind that I was using a conservative strategy which encouraged a minimal drawdown in the first place." Do allow your EA to complete each trade according to its parameters or are you modifying or making it unique in each trade?

Lloyd said...

I applied a standard stop loss level across all trades. But I did have some other parameters for trade entry and exit, thus making each trade "unique" in a way.