Sunday, August 3, 2008

New Trading Method

I've been studying a trendline method lately, which was invented by Alan Andrew called Andrew's Pitchfork method. The system uses median line (including upper and lower median lines) to determine possible TP, which really hooked me up in the first place because I had a hard time determining the correct TP for my trades.
Hence, I downloaded the pdf and consume it to broaden my trading method because Andrew's Pitchfork suits my trading style. Credit to Parlenk who introduced me indirectly using this method.


Last week I did take a trade based on the system itself, so I took it. MACD 4hour didn't give live signal last week, consequently I took this one out. It went well and gave me around 70pips. It was rather a risky trade as it was my first trade using the method which was live trade, in addition, trend was looking bearish and what I did was countertrending. Here is the chart:

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