My Trading System - Page 2
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  1. #11
    Join Date
    Dec 2006
    Posts
    124
    hello again!

    alright. these are the 3 trades:

    AUDUSD:
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    in this one 2 hours after I got in I noticed a crossover against me.
    I had to close the trade losing only 2 pips on the spread...
    on the daily chart, we can see that the major trend is actually bullish. I'll wait for the big PPI reports today at 13:30 GMT to come out, and then we'll see if the minor (1H) trend gets bullish again. if that is the case, we're into some serious money-makin' in the coming days.

    EURGBP
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    This one is going pretty well. I got strong signals from both MACD and Stochs.
    it almost hit my TP, but then the currency retraced back, and now it's on the right direction again. hopefully by the time you read this I already hit the TP. I'll keep you posted.

    GBPUSD
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    Here I got stopped within the hour, and as you can see the crossover came the next hour. again, on the daily chart, we can see that the major trend is bullish and that it might be up to the PPI reports today to tell if this pair is to continue going up.

  2. #12
    Join Date
    Dec 2006
    Posts
    5
    it seems like you're doing really good using that system of yours. can you sum up the amount of pips you earned each trading day?

  3. #13
    Join Date
    Dec 2006
    Posts
    124
    Quote Originally Posted by londont View Post
    it seems like you're doing really good using that system of yours. can you sum up the amount of pips you earned each trading day?
    nahh I'm too lazy .
    I'll post the monthly sum at 1.10.07 for you all to see, and then see if the system needs any more adjustments or if it's good to go.

    right now I'm working on a potential adjustment - what should I do in cases such as this:
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    by the 1H chart it seems as if I got all the positive signs for a go.
    (positive trend, oversold pair, positive crossovers and no conflict with the MACD)

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    on the daily chart, however, it seems like the currency hits the top of its ascending channel...

    should I get in long?
    - I have. I decided to stick with the system. I'll do the analyzing later, at the end of the month.
    went long at 156.00, SL at 155.76, TP at 156.35.
    this would give me accurate info because this pair is right now technical. next fundamental events are the
    All Industries Activity Index, and the Trade balance in Japan 9 hours from now (11:30PM GMT).
    these have a low impact on the JPY as well.

    have I made the wise decision, altough we're almost at the peak of the channel? time will tell.
    Last edited by parsush; 12-20-2006 at 11:01 AM.

  4. #14
    Join Date
    Dec 2006
    Posts
    124
    It appears time has spoken:
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    things went exactly as planned - however I notice something, 3-4 hours before the TP was reached, stochs we're at overbought.

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    in this trade, taken as well today, stochs showed overbought before TP2 was
    reached.

    luckily for me, I wasn't around the computer to close the trades so they really did hit my TP points.

    I suppose that these cases show me that an adjustment should be made, considering my exit rules. I should give more credit to Fibo and less to stochs, since the real money (TP2) only comes when they ARE overbough\sold against the trade. I suppose I'll change the rules to just move to breakeven, and not shut down the trade entirely.

    I must also add, that at first I lost the GBPUSD trade, when I entered it a bit too early, lost 40 pips (2 lots) and only an hour later, when i saw that the bears power was over I got in again and made around 85 pips.

    Any comments or suggestions would be appreaciated.

    Regards.

  5. #15
    Join Date
    Dec 2006
    Posts
    5
    ho hamor aravi sheli,
    great charts parsush. it seems to me that your system makes good pips.
    i have one question though.
    you seem to enter with two diffrent TP points yet only one SL, i think you should consider using another SL. this can be useful in cases like your previous trade (you said you lost 2 lots with 40 pips because of wrong entrypoint/SL).
    please care to reply.

  6. #16
    Join Date
    Dec 2006
    Posts
    124
    no problem my hairy bear,
    infact, the explaination is rather simple.
    by entering with 2 lots and setting SL on -20 pips each, I ALREADY EXCEEDED my limitation of 30 pips per trade. if my system allowed it, I would have set it to -40 or -50 each, and spare those percious pips, but I can't do that since I'm counting on a good P\L ratio.

    I already bent the rules a little bit, by setting the max loss to -40 pips (and paid for it costly).

    this is why I usually use one SL.
    when I see an "all go" sign from my indicators (MACD Stochs Trend and MAs are all in for the ride) I allow myself to increase risks a bit more, enter with 2 lots, and sometimes bend the max -30 pips rule to -35 or even -40, if it gets me behind a good support\resistance line.

  7. #17
    Join Date
    Dec 2006
    Posts
    124
    Latest trade:

    went long on EURCHF in 18:07 (GMT) at 1.6025.
    SL at 1.6015, TP1 at 1.6045, TP2 at 1.6075.
    (later on I changed SL to 1.6017... the minimum SL my broker allows is -10 pips, so I just set it when the price got a bit higher.)

    Trade review:
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    it looked so promising at first, even the MACD gave me good signals.
    yet my SL was triggered and I lost 8 pips on each lot.
    that was quite disturbing... it did look like the perfect trade...

    ...and then I looked at the higher (H4) timeframe.
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    obviously I should have seen that. the ascending channel was broken just before I got into the position. if I saw that, I wouldn't have executed the trade. now price might as well hit the 23.6%, or the 38.2% fibo support line, before continuing the uptrend.

    well, this is how you learn

    lost 8 pips on each lot (total: -16 pips)

    Regards.
    Last edited by parsush; 12-22-2006 at 09:05 AM.

  8. #18
    Join Date
    Dec 2006
    Posts
    124
    Good morning everyone!
    I decided that this week, I'll try to post the trades real time, or even an hour before opening a position, so you guys could catch up and make profits as well.

    here's this week's first trade. just opened the postion, and if this one goes right we'll have a good week.

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    I spotted an overbought at the GBPUSD, a nice bearish trend and even two crossovers to confirm. I also added the trendline to make sure it wasn't approached like in previous trade, and noticed we're at its top.
    the unfortunate thing, was that when I was just about to execute my short order at around 1.9620, the pair dropped by around 18 pips to 1.9602.
    If I woke up 20 seconds earlier, for example, this trade would have looked differently (probably 2 lots instead of one - and more probable to win)
    but my entry price (1.9609) should be good enough to make it anyway.
    so: Short at 1.9609 SL at 1.9646 TP at 1.9566.
    if any of you get into this position at a better price\conditions, you're more than welcome to use 2 lots. I can't afford it because I've already exceeded my per-trade limitation.

    good trading!

    Regards.

  9. #19
    Join Date
    Dec 2006
    Posts
    124
    seems like previous trade (GBPUSD) just opened a time window...
    right now price is at 1.9638 meaning if anyone wants in - time is now. you can also get in with 2 lots, TP2 would remain 1.9566 and TP1 would be defined using Fibo and you entry price (ratio)


    regardless to that, there's another trade (USDJPY) coming up soon and as I said, I'm giving you all the time to prepare yourself for it. should be triggered next hour (12:00-13:00 GMT).

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    in this USDJPY chart, we see the trend and we see the stochs.
    if current candle closes below 0.20 value in stochs, that's the signal. go long. aim for 118.91. SL depends on entry price, but if ratio allows it (1:1 or better), keep it lower than 118.50 (example: entered at 118.67).
    that's about it.

    Editted


    I just noticed USDCAD also follows the same criteria.
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    if after candle close stochs are lower than 0.20, and you manage to catch it at a relativly low price, set TP for 1.1584 for a humble profit. humble, but still a profit
    ...just make sure P\L ratio is in your favor. otherwise - don't trade.
    Goodluck!
    Last edited by parsush; 12-25-2006 at 07:21 AM.

  10. #20
    Join Date
    Dec 2006
    Posts
    124
    Trade Review

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    got stopped at 1.9646. seems like the descending channel was approached.
    at least I know the SL was positioned correctly. the minute the price rose above the channel and the MA100 (yellow) it was a lost case. too bad.
    can't win 'em all, I suppose

    so it's a -37 pips.

    Regards.

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