Here is a look at one of our long running tradeplans. This is a customized plan using the popular EURUSD with a 5 minute chart, meaning, that MT4 users are IN with this one.
Those of us who have been trading this EURUSD tradeplan for an extended period of time had the confidence to just take the next setup according to the plan. It required discipline, of course and those without the longer term exposure might have a hard time staying with it. But notice how the first trade of the day, during the Euro session reversed course. Also notice how the stop reduced risk. Then, the second trade put us long and delivered the goods. We couldn’t take a 3rd trade because we were already passed our stopping time.
US Session; + 73 pips
All in all, an excellent EURUSD session during a day when Bernanke was testifying before congress.