Friday, March 12, 2010

Tea break strategy gain

Longed GBP/USD at GMT8:10 after it break out to the upside.
D1: Downtrend (MACD crossed up though)
H4: Uptrend (although EMA has not fully cross up)
H1: Uptrend (MACD is unclear)
I entered the trade even though the signal was not strong enough, but this is a tea break strategy. Risked smaller lot size and did not let it run to hit PT target of 62pips. I closed manually with only 25 pips gain adding 1.2% to portfolio.
Overall weekly gain was 3.2%.
Portfolio: -56%

Still a long way to break even.

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