Monster Rally on the GBPUSD

The GBPUSD really powered ahead today..  I was trading my 4-to-7 breakout strategy and got my 30 pips. It seems pathetic when the market powered on another 170 pips or so.. still, a profit is a profit!

The range was 14632 and 14597.

I didn’t trade the 9-to-9 however. If the range is over 120 pips or so, the movement has already been too large for the day. Also, I can’t scale my trade to be small enough so that the hefty pip stop loss is a mere 5% of my trading account.

The top line is 14752 and the lower bar is 14549 which is around 200 points.. double of what I would like it to be approximately.

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Category: Forex trading, Spreadbetting, Trading