Quote:
Originally Posted by robp
One lot in each direction with a 10 pip tp, no sl. What do you do the next night at 8 pm if one side didn't hit or is 100 pips out the money?
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above situation has happened only once in a few years --- it went one day and then closed --- we continued trading the next day, as if nothing had happened !
i do tend to check the charts to make sure there is enough headroom and bottom room for the 10 pips, but at 8pm, est there usually is, as major activity occurs overnight, during the asian market and into the opening of the european market. Seems to be reason it works, because of two markets volitility and it only being 10 pips each way ! If all else fails, then we have the US market to shake some things up.
the idea is based on how a forex trend, once broken by news or the jolly green giant stepping on the chart, wants to return to whence it came once daytraders have had their fun ! It is graciously aided by wide range that GU usually works in !
enjoy and trade well
mp
BUT PLEASE CONFIRM WITH DEMOING before doing ~!
mp