Friday straddle on the Pound triggered both ways and did not pay either way. Second trade should have canceled per protocol. (At 10 PM we are at 50)
My mind said to place the trade as an odds on trade.
My instinct was warning me.
Should not pay so much attention to the mind! Sometimes the ego will sabatouge.
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GBP/USD pass thru straddle trade set at 10 PM paid off 25 pips last night. (At 10 we are at 80)
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Well the summer doldrums are nearing an end. Hopefully the forex coach will see the return of a trending forex market.
I just back tested the GBP/USD for pass through trades for the last 14 days and it paid out on 10 and last on 4. That is a pretty good ratio to trade on…. slightly over 70%
The trading criteria are
- Enter trade after 10PM PST——— or after 5 AM
- Profit and loss set for 25 pips
- Enter short at 30 pips (above 100)
- Enter long at 70 pips
- Take the first trade of the night
- Reversing entry near trade time needs to pass back 15 pips past entry at least before reversing again.
- Trending entry near trade time can be right on entry price.
You can play with the settings and trading days and perhaps improve your odds. My testing showed almost as good at 5 AM PST.
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USD/CHF 15M 7/14
It is not trading season for me for another 6 weeks, but I noticed this nice breakout last night on the Swissy. The Pound and Euro also followed the breakout but not as nice a setup.
It is good to see breakouts still working even in this crazy summer market.
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