Went into the office yesterday to do a few quick tasks before starting up next Monday - gotta like the long New Year vacations in Japan! When I came back home last night after a quick visit by Alex's house, I started doing some Friday night trading and ran right into a jackpot. Usually try to avoid news release periods when trading, but forgot that the US unemployment rate would be announced. Just as the announcement was released, I was long on EUR/USD and experienced a 100+ pip profit! Whewww hoooooo!! Over the past week had been in the red from the blood bath that I suffered when the EUR fell through the floor a few weeks ago, but managed to get ahead again.
Have slightly changed my trading strategy for mixed signals. I have opened a sub-account with a few hundred dollars. When I have mixed indicators - e.g. all of the indicators do not support a particular direction - after reviewing three hour charts, one hour charts, and indicators, I open a trade in the sub-account for a couple hundred units and watch the activity. I trade on the 15 minute chart. If the sub-account goes in the right direction for about three to five minutes, will open a bigger position in the main account.
Between 20:30 and 21:00, I performed a couple of tests on the sub-account with a long position because the one hour and three hour charts showed a strong indicators for going long. At 20:25, I placed a long order on the main account (graph above) and closed the order when I thought it was going down at 22:15. A gain, but too convergent.
Then I took another look at the one hour chart, where all indicators were strong for a long position, while all the indicators on the 15 minute chart were mixed. After looking at the one hour chart indicators and the breakout candle at the close of the 22:00 to 22:15 time range, realized that an upward trend was most likely. Then I placed three separate long orders at 22:15 and waited. Boom! That's all she wrote. Since the activity was so volatile, I did not maximize profits, but made my fair share.
