Thank you for keeping us updated! I really appreciate it. Keep up the good work!
Good luck with your trading strategy 
With the market opening in a little while, I imagine we’ll see a continuation of Friday’s upswing due to the moving average spread and near overbought condition on the stochastic.
I apologize to you all. Turns out I was incorrectly calculating my pips. So, with that said, I’m looking at the daily chart and we’re still in the midst of a bullish trend. I have a pending long entry at 1.605, with S/L at 1.595 and T/P at 1.625. The next few days will be interesting
The trade I had set up was indeed triggered then went down 20 pips, so I drew back on the daily and noted that it appears that we’re in the midst of a downtrend and bumping against the 16.8% Fib retracement. So, I decided to short at 1.6 with S/L at 1.61
Up 50 pips today on today’s economic data, so I’ve moved my S/L to break-even status. Planning to let it run til Friday…
Strong week for the GBP/USD pair. I spent the week trying to predict the downtrend on the daily chart and can now freely chuckle at my naivety. Don’t bet against the flow of the market!
My MT5 client acted up when the market opened or I had the U.S. trade time wrong…Either way, I missed that 100 pip downturn that started the night off. I am not amused but I have a short trade set at 1.596, eith S/L at 1.6 and T/P at 1.586. I may increase the T/P to 1.576 for the week, we’ll see…
Edit: Entry adjusted to 1.6075 with S/L at 1.6175 and T/P at 1.5875
Closed my position at 1.5958, not bad for the week so far.
Double bottom on GBP/USD daily at 1.5892 possibly?
Going long at 1.596, with S/L at break-even and T/P at 1.606
I got stopped out, which is fine. Short trade set up below the believed double bottom at 1.5885 with S/L at 1.5985 and T/P at 1.5785
Nice simple system. I like it.
So what exactly are your Entry and Exit rules?
I see you use a 10 and 20 EMA but then in another post you mention a SMA, which is it?
I would love to follow along and test this out in a demo account but I like clean and definite rules.
It looks like to go with the direction of the 10ema when it crosses the 20ema as long as the Stoch is in oversold or overbought according to the direction of the 10ema (ie buy if 10ema crosses above the 20ema AND stoch is BELOW the oversold line). Is this right?
What happens if the crossover occurs with the stoch APPROACHING BUT NOT YET CROSSED the “over” lines? Do you wait or do you get in early and ride out any continuation of the trend before reaping the reversal?
Also what if the stoch signal is over the “over” lines and turning back in the same direction as the 10ema where the 10ema crosses the 20ema? Is that too late a signal?
Thanks
10 SMA with 30 EMA. Sorry for the confusion. Generally, I try and trade the SMA cross with the Stoch in overbought or oversold ranges. Regarding crosses with Stoch in neither of these ranges, it can vary. On the 2nd of Sept. of this year on the GBP/USD Daily chart, there was a downward cross with Stochastic in the middle of its ranges and the price sank solidly. I need to work on my discipline as I do try to get in early then get easily spooked out of situations like that.
About your last question, I might wait because the price may reverse to continue in your favor. Being a novice, I’m uncertain about this, so I urge you to do what you personally feel is best…
Thanks for the response. Do you use the slow Stochastic or the plain one?
Plain, Marshal
HI, I come from China, and really love this great forum. it’s nicely designed and the content are useful.
these weeks, EUR/USD, USD/JPY and volatile and crazy, it’s challenging. isn’t it. good luck, all guys. want to make more friends here.
Good Luck Arthold, I’m going to keep an eye on your thread and hope you do well. Let us all know when you go live.
Also interested in how you decide to tweak the Entry/Exit signals to a more detailed/consisitent level.
For the time being, I’m merely following trends and do need to work on my entries/exits over time.
you decided in right way folk…