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Thursday, January 31, 2008

CAD-JPY Range Trading using Bollinger Bands

WON: 1 pip



Won: 1 pip
New Strategy:
1. Look for a Ranging Pair for 1 min Chart
2. Limit Buy or Limit Sell at the edge of Bollinger band.
3. Set TP as close as possible to opening price
4. Let SL be Oanda's default which is usually around 10-20 pips

The profit is only 1 pip, but if you did it 10 times, you get 10 pips. The last 3 trades were all done within the hour harvesting 3 pips profits.

It's 12.28 am. Yawn.... Going to bed.

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