I took one trade today on the 1 Hour chart on the GBP/USD. I got a signal near the end of the NY session after thinking I was going to end the day without a trade. I entered short at 1.9565 after the Forex Profit Monster Fast and Slow Trend Indicators lined up. Because the trade was taken at the end of the NY session, it would mean me setting a tighter stop than usual for a few hours so I could get some sleep, then when I got up in a few hours if the trade was still on (not stopped out) I would take that stop off and put the "safety stop" back on and wait for the system to give me an exit signal. This is what I usually do when a trade on the 1 Hour chart goes past a trading day, rather than have to get up every hour to check the charts. Unfortunately right before this blog post I went to set the stop loss so I could get some sleep, and MADE A MISTAKE while setting the stop loss. I'll accept the blame, even though I think it might have been a "glitch" in MT4 that caused the problem. I went to set my stop loss to just behind the blue line of the "Real Price Channel" indicator (just above the 61.8 Fib retracement) and when I entered the modified order, the price setting for the stop loss jumped back to right around where the price was currently. By the time I could get the order box back open to fix the problem, the price actually moved up a few pips and took out the stop at 1.9531!!!!!
So, I ended up making 34 pips on this trade... I guess we'll have to wait and see whether this was a good mistake or a bad mistake... I decided against re-entering the trade since it had already moved so far and I did come away with a profit.
It just goes to show you... even though you have a ton of experience using a platform, you can still make a mistake. (Although I still think the number reset as I entered the order!)
Even with this "mistake" in my trading, the current monthly total for January is +593 pips.
Best of luck in your trading... may the pips be with you!!!
Jim
http://www.forexprofitmonster.com/
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