Monday, 30 March 2009

Is the rule I setup on Friday 20th March good? I don't know. I followed the rule today and didn't let my profits go further. I could have made several hundred more pips on the 2 orders. More likely I should take profit @200 pips.

Another rule that I should only look at the chart 5-7 times a day may also mean that I should take profit @ around 200pips instead of only 80pips.

I should write a note on the "stick to index" for each order.

0014 GC: stick to index 5;
6984 GJ: stick to index 4;

Both CHF and JPY have already had an up trend for 8-10 years and may come to a turing point to come down. Comparing CHF and JPY, there is stronger up trend for JPY. So comparing buying GC and GJ, buying GC is more sensible (equivalent to selling CG is more sensible than selling JG as CHF has less up trend or has more down trend).

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