Hi all,
It's been a while since my last post. I've had much to do away from trading, and what with so much uncertainty around the markets these last few days I've decided not to make any entries until things quieten down a little.
Two things to report though.
Firstly, our AUDCAD finally stopped out. This results in us down a total of 2% of our initial account size as it's the second stop since this blog started, but we expect this. No system can go without some losses, and ours is designed to ensure that each win more than makes up for losses sustained.
So, to our second report - the EURCAD pair we entered long on the 8th of this month is still proceeding nicely. It currently has 2 lots each sat 646 points above the initial entry, and is therefore currently at a 1:8 risk/reward ratio. Our rules state we must stay in until a clear exit signal presents though, so no pulling out yet!
Stops have been moved up, and have now separated - with one on the bottom of the Kumo and the other sat at the last level period of the Kijun Sen. If both stops were to be triggered now, we would exit the trade 4% account size better off - meaning that we are currently 2% up from when we started, with only more potential profits possible.
I'll keep an overview of this trade going here over the coming week, but unless I see a very stable and safe looking entry, I won't be adding any more pairs to our portfolio right now.
Remember, our money is only at risk when we're actually trading - sometimes a short wait to allow the market spasms to stop can save a large loss, and with a successful system it would be a shame to lose money to random fluctuations!
Happy trading all,
Cord
