Sunday, June 10, 2007

New plan

In accordance with my market immunity theory (I may put it in brackets if you so wish as I am not a Nobel prize economist) I will begin to test a new idea as of this Sunday open. If you read my musings about adaptability, evolution of the Market you may understand why I have to work on new ideas or trading concepts. It may take me a year to develop a sense of "right time in the right place" about this new plan. I may abandon the plan after 6 months should an interim, negative, result tell me so. Therefore, I encourage to open such positions only on demo account only until the concept is grasped and takes us to consistent profit. I will trade live mini-lots. The idea is still based on my favourite daily or 4hr timeframes, so there will be lots of time to think, be patient, spend quality time with our friends and families, wait for the right moment and enter. I will mark such entries simply as "demo trade" as it should remind us to be patient and spare cash.

First entry upon Sunday open for demo trade:

Short AUD/CAD, Target - 0.8855, Stop - 0.9017. All targets must be adjusted by broker's spread for this pair. My platform shows 9 pips.

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