Elang
Thanks for the advice.
What time frames do recommend?
Also, are you giving anymore trades or are just letting your trade run?
And is it to late to possibly get in on GBP/JPY.
And when is it too late after a cross to get in.
Thanks
Gary
Hi Elang.
Off and running again, was this trade trade 1 pip off being stopped out.
Thanks
TRADE #007
~GBP/JPY~
29.03.2007
Entry - 229.29 
Lots Traded - 2.0
Target 1 / 10 PIPs - 229.10 (LIVE)
Target 2 / 20 PIPs - 229.00 (LIVE)
Target 3 / 30 PIPs - 228.90 (LIVE)
Target 4 / 40 PIPs - 228.80 (LIVE)
Target 5 / 50 PIPs - 227.70 (LIVE)
Stop Loss / 40 PIPs - 229.69 (INTRA-DAY)
Stop Loss / X PIPs - 231.89 (SWING)
Lash - +4 Pips
TOTAL Profit Since Trade #001 /16.03.2007/: 744 PIPS
RECOMMENDATIONS:
Close your first lot when you hit 50 Pips Profit (Or a Target of your choice T1-T5) and set a SL for the remaining lot 5 Pips ahead of your Entry Position so even if the trade goes against you, you will close with a minimum of 50 + 5 Pips profit and no incurred expense.
NOTES:
I’ve managed to quickly introduce you guys to the dynamic SL system i was talking about yesterday. If you’ve downloaded the System file i attached, you should know by now how to determine a good exit. Don’t forget though it’s just a system, just another another tool.
I never look at a system as something independent, something i can rely on solely. I’ve sponged so many systems till date, yet the best results i’ve gotten are when i’ve added systems to my current trading artilery, increasing the vibrance of my trading pallette, making me a stronger trader through my compounded knowledge, now mine, not anyone elses.
Don’t find a system, then tunnel vision like a horse with caps on its eyes.
You want to look at everything from a birds eye view. Imagine yourself soaring high in the sky… over everything that is Forex, you can see it, the systems, the analysis the techniques. U can see them clearly from up here, you can see their weaknesses and their strenghts… but when you dive in, you become lost, you fold into that which is around you, that which is limited. You can’t see your flaws nor their solutions. Fly high in this game and keep your mind open, you will progress faster.
Try to maintain your identity by engulfing what you see from others, such that every person becomes a different system on their own based on the combination of information they’ve aquired. Learn what you’ve been presented and move on. Don’t hinder, so you can be ever-developing.
It never ceases to amaze me how many new things i learn every day while trading. I’ve done a lot of things during my short life time lol from A to Z, but nothing really helps you develop as fast as trading does, it really taps your potential and puts the whippin to its ass.
TA:
Todays Range is: H / 231.89, L / 228.76 and M / 230.32
The price action is below M, so we assume a bearish favor.
The fall from 232.97 developed into a beautiful EMA spread with the price being handled dilligently by 10 and 20 EMA.
For the moment we’ve had no threats from the bulls. Bears aren’t taking much profit and corrections are minimal.
The first area of arguably more substantial support is showing to be the 229.07/18 area, the price having bounced off 228.76 has been tackling this area for some time now. We may begin to have the first correction of the fall from 232.97 if this continues and i will terminate my short if i see a whole candle close above EMA 20 on M30/H1
I’ve closed trade 6 with 321 Pips, so we’ve made good profit on that. I used M15 to terminate my position after a whole candle closed of EMA 20
Over all our profit stands at 744 Pips in 6 trades, not bad. I’m actualy amazing myself lol.
I will reenter short later if we break 229.07/18 and 228.76
On the downside we have 225.41 > 222.60 > and a test of 221.07
If my analysis is correct we will reach AT LEAST 222.60
As i mentioned earlier, it seems the first correction to the fall from 232.97 is taking place. Draw your fibonnacis to see where it might go; i am giving it about 38.2% / ~ 230.39 / Also a previous Suppor area on the H4 Charts. We should have a resumption of the trend then.
To keep things in guage, move up to higher time frames and see if any candles are closing over 20 EMA on them, so you can determine how far things are going.
On the Upside, possibilities are that we have a break of 230.39 and run for 232.97. The bias however is predominantly bearish for the moment, so try and look only for short trades.
I will let you know if we have a trade today later on.
Regards!
E. Lang
[I]“A river no matter how long it flows, will always reach the ocean”[/I]
Hello Gary
[B]Thanks for the advice[/B] - [I]You’re welcome[/I]
[B]What time frames do recommend?[/B] - [I]M30+[/I]
[B]Also, are you giving anymore trades or are just letting your trade run?[/B] - [I]Trade 007 is available. Use the information at your own risk.[/I]
[B]And is it to late to possibly get in on GBP/JPY[/B] - [I]Not Late at all[/I]
[B]And when is it too late after a cross to get in[/B] - [I]You will need to determine that by measuring how far the closest related Support/Resistance is.[/I]
Hi Fourex.
[B]Off and running again, was this trade trade 1 pip off being stopped out.[/B]
I think it was one pip off lol. I was using another stop loss, system so i’m not sure if anyone got stopped out, but we certainly had quite a few people reporting good results, so i guess they weren’t stopped out.
Regards,
E. Lang
Good Morning guys,
I don’t have my charts open at the moment, but from what i can see our intra-day stop of 40 pips was hit.
For those of you using the SWING stop or, something more modest like the middle of the previous daily candle, which is normaly always resistance then you should still be in the trade.
I didn’t have too much confidence in the signal produced by the system yesterday, but i decided to post it anyway. I wan’t the good trades and the bad trades to show. I don’t want you to think im setting things up behind the curtains.
[I][B]“The first area of arguably more substantial support is showing to be the 229.07/18 area, the price having bounced off 228.76 has been tackling this area for some time now. We may begin to have the first correction of the fall from 232.97 if this continues and i will terminate my short if i see a whole candle close above EMA 20 on M30/H1[/B][/I][I][B]”[/B][/I]
[B][I]“As i mentioned earlier, it seems the first correction to the fall from 232.97 is taking place. Draw your fibonnacis to see where it might go; i am giving it about 38.2% / ~ 230.39 / Also a previous Suppor area on the H4 Charts. We should have a resumption of the trend then.”[/I][/B]
That is exactly what happened and that is exactly what i did. I moved down to M15 and closed out as soon as the first candle closed over EMA 20.
Before i got out to work today, i noticed that a Long entry signal had occured. I don’t know if anyone took that, but you shouldn’t have.
This isn’t a dumb traders system, you need to know good TA. Around the time the signal came out, you should have noticed Stochastics was at a top, coming back down and also that we were at 38.2 / 230.39, which as i mentioned was Support turned Resistance. More than that like i’ve written in my short tutorial, we draw the three horizontals at first to determine bias… so if we know its short, why take a long signal ? It will most likely be a correction… “WE” want to trade the impulses, not the corrections.
I will get on the charts in a second and let you know if there is anything more i can add to this.
Regards,
E. Lang
Now that i’m at the charts… i wonder…
Considering the volatility of GBP JPY and the timeframe we trade on M30+ perhaps it woun’t be too much of a sin to catch corrections ? - They tend to be rather big here with up to 200 pips, so why miss out? Just try and keep knowledge of the ACTUAL direction, and of that movement which is a correction and of those which are its impulses.
The corrective movement has broken through 38.2 and 230.38 the next up-traget is: 50 EMA on H1 then 50% around 230.86… Thats 3 resistance factors, so there is a better chance of having the correction terminate around that level. You need to understand that SUPPORT and RESISTANCE are not static values… they are “AREAS”… areas of support, areas of resistance… they can be anything from 1 to 50 pips of area.
Stochastics on H1 you will notice have reached its top at 50 EMA, it may go up to 50%, but i think it will start reversing there, our targets on the downside are: 228.76 > 225.34 > 222.60 > 221.10
Thats all folks. Sorry if you lost money on trade 7. We will make it back i guarantee!
Regards,
E. Lang
“When you have eliminated the impossible, whatever remains, however improbable, must be the truth. It is stupidity rather than courage to refuse to recognize danger when it is close upon you.”
“There comes a time when for every addition of knowledge you forget something that you knew before. It is of the highest importance, therefore, not to have useless facts elbowing out the useful ones.”
“Human beings, who are almost unique in having the ability to learn from the experience of others, are also remarkable for their apparent disinclination to do so.”
“Continuous effort–not strength or intelligence–is the key to unlocking our potential.”
“Success is the sum of small efforts, repeated day in and day out…”
Possible short trade opportunity developing.
If you lost any pips on trade 7, you may be able to recollect them with this trade if it develops the right way.
Use the system guidelines explained in the zip file to determine a good entry.
Regards,
E. Lang
Short Trade update: We have a recommendation, we need to wait for a confirmation now; a whole candle to close below 20 EMA.
Regards,
E. Lang
UPDATE: This opportunity went sour and there were no entry confirmations produced. The price reversed and gave us a long recommendation, nulling out the bears for now. Better luck next time 
We will wait for another bearish move.
UPDATE: The news has crapped everything …
Use the guidelines in my system tutorial to enter a short trade when/if available.
I will be happy to see anyone surprize me with some profits when i get back from work.
I’m off for now.
Take a look at the updated chart.
Good Pippin everybody.
Regards,
E. Lang
Hello guys,
Finaly back home.
GBP/JPY seems to be correcting still.
It broke through 38.2, 50 and its hovering above 61.8 now.
Overall thats not good. I wonder whether this may turn into an impulse knocking out 232.97 and rendering the whole fall from 232.97 to 228.76 mere a correction of the price movement from 225.41 (LOW) to 232.97 (HIGH)
Things have turned bullish at the moment.
Trade 7 yesterday was very embarassing lol, but what can we do.
When you want mechanical thats what you get i guess
Still lets not forget we are up 704 pips still in just 7 trades. (lost 40 on trade 7)
Thats still pretty good
My EMA system on its own, produced trade 6, which was a success and it produced one more signal today, which if we had taken, would have had us up at about 170 pips right now. I refused to play it out though at it was in the opposite direction of my bias.
I need to once and for all decide wether i am going to trade striclty with a system or use TA too. It’s a hard choice to make, but its conflicting with trading performance as you can see… i will figure something out.
Anyways, the important thing is using the system i tutored in the zipped file on M30 you would have gotten 1 clean signal today, just 1!!! no conflicts, no confussions, one clean, visible signal for 170 pips!
I don’t know if anyone took that, i will be happy to know.
My analysis says the price may drop 260 pips form its current level at the moment around the 61.8% back down to 0% ~ 228.70 so keep your heads up.
Anyways, there isnt much i can say for now, im a bit nackered.
I’m going to freshen up and ill get back to you guys in a few hours with trade 8, if it presents itself ofcourse
Regards,
E. Lang
My initial system has a LONG signal at [B]231.56[/B] on GBP/JPY (40 Pips Stop Loss)
In other words it is purely mechanical.
I’m not going to enter this, because i haven’t dont any TA on it + there is a plethora of news coming out in 30 mins.
I just wanted to let you know before i go to bed.
I’m calling today a no trade day… well at least no OFFICIAL trade…
When its official you’ll see the fancy trade info thing with the consecutive trade number.
Sorry guys, i’d stay up and make it a trade, but im just so tired X_X.
My Bias is still short for +260 pips from 61.8%, but we’ll see.
Catch you guys tomorrow.
Regards,
E. Lang
Probably a good thing that you are not giving any signals today as there is significant news coming out at 7:30pm EST on the JPY, and the fundamentals could conflict with the technicals.
Personally I am going to wait until after the news to decide if there are any opportunities.
I went short at around 229 a couple days ago and im still waiting for it to come down a bit (scared to just exit the trade and lose 170pips!!!) I know should of placed a stop loss.
On a good note I made a good amount of pips shorting it from 800pm (est) from 231.4 to 230.93.
keep up the good work e.lang
“My Bias is still short for +260 pips from 61.8%, but we’ll see.”
…and thats exactly what i did with a short at 231.52
I am about 75 pips up at the moment.
The have been signals on M30, but if you move to H1, you can still catch the Recommendation and wait for a Confirmation before going short.
If we can keep this up, we will fulfil that 260 drop from 61.8%
Regards,
E. Lang
UPDATE: Closed it at 33 Pips before news, i happy i guess.
TRADE #008
~GBP/JPY~
02.04.2007
Entry - 231.42 
Lots Traded - 2.0
Target 1 / 10 PIPs - 231.68 (HIT)
Target 2 / 20 PIPs - 231.78 (HIT)
Target 3 / 30 PIPs - 231.88 (HIT)
Target 4 / 40 PIPs - 231.98 (HIT)
Target 5 / 50 PIPs - 232.08 (HIT)
Stop Loss / 40 PIPs - 230.98 (INTRA-DAY)
Stop Loss / X PIPs - 230.51 (SWING)
Lash - 14 PIPS
TRADE TYPE: Mechanical
(Entirely Indicator Based / No Technical or Fundamental Anlysis)
STATISTICS
TOTAL Profit Since Trade #001 /16.03.2007/: 744 PIPS
TOTAL Loss Since Trade #001 /16.03.2007/: 40 PIPS
SUM: 704 PIPS
RECOMMENDATIONS:
Close your first lot when you hit 50 Pips Profit (Or a Target of your choice T1-T5) and set a SL for the remaining lot 5 Pips ahead of your Entry Position so even if the trade goes against you, you will close with a minimum of 50 + 5 Pips profit and no incurred expense.
Elang,
Please forgive my ignorance, but was this entry price based on the daily pivot and the long entry signal on the 30M chart ??
Thanks
I downloaded the system file and applied to my mt4. By looking at this last chart you posted I compare it to my current chart and I don’t have as many arrows on mine. In fact, I don’t have the arrow that signaled your entry. Could this be because you are using a diferent server? Could there be such a difference?
TRADE #008
UPDATE
~GBP/JPY~
02.04.2007
Entry - 231.42
Lots Traded - 2.0
Target 1 / 10 PIPs - 231.68 (PADAWAN)
Target 2 / 20 PIPs - 231.78 (THE FORCE WITHIN)
Target 3 / 30 PIPs - 231.88 (BALANCE)
Target 4 / 40 PIPs - 231.98 (JEDI PIPPER)
Target 5 / 50 PIPs - 232.08 (SITH LORD - DARTH PIPACIOUS)
Stop Loss / 40 PIPs - 230.98 (INTRA-DAY)
Stop Loss / X PIPs - 230.51 (SWING)
Lash - 16 PIPS
TRADE TYPE: Mechanical
(Entirely Indicator Based / No Technical or Fundamental Anlysis)
STATISTICS
TOTAL Profit Since Trade #001 /16.03.2007/: 744 PIPS
TOTAL Loss Since Trade #001 /16.03.2007/: 40 PIPS
== == == == == == == == == == == == == == == == == == == ==
TOTAL P/L On Current Trade: 50 (1 Lot Closed / 1 Lot Trailing)
SUM: 754 PIPS
RECOMMENDATIONS:
Close your first lot when you hit 50 Pips Profit (Or a Target of your choice T1-T5) and set a SL for the remaining lot 5 Pips ahead of your Entry Position so even if the trade goes against you, you will close with a minimum of 50 + 5 Pips profit and no incurred expense.
NOTES:
Ok guys nothing too interesting here. Our entry at 231.42 started out with a whip lash of 16 pips in the opposite direction, after which the price progressed steadily to hit our targets T1 to T5. As per my recommendation i’ve closed out my first lot after hitting 50 PIPS, to lock those in. I’ve moved my stop loss to ENTRY 231.42 instead of 5+, just to give it some more breathing space and let the price develop. Just let it run free. 50 PIPS a day is enough, try to learn to be satisfied with that, take it and let the rest run for more. The nice thing about it is that you secure an above average profit and leave the trade with a potential for much greater gains with 0 risk ratio.
TA:
I want you to note the chart i’ve attached. Notice the previous Long signal on D1 (29th) then look below at the Stochastics. Notice how they bounced of 50 ? This means the movement was a correction. So we assume that the current action is consequently impulsive, which means it must move higher than the last impulse, in other words my TA says we are going to have a break over: 232.97 and perhaps higher.
REPLIES:
My entry was based on:
1: The daily candle opening over M of the previous range.
2: Having a Long Recommendation available (H4)
3: Having a Long Confirmation available (H4)
4. Stochastics bounce off 50 on D1
I supported my initial entry signal (Mechanical / HLM) with some TA and a cross of 1EMA and 3EMA (D1 and H4 Applicable only)
Keep in mind that even if you longed by using my initial system you would have gained the same profit.
I am always optimizing and i prefer trading on larger time frames, so yes i did supplement my initial Mechanical signal (that you guys should have had aswell) with a new EMA cross value specifically for higher time frames, but no difference really.
Looks like we are back in the game ^_^, managed to cover our last loss with some profit, hope the second lot runs higher.
REGARDS!
Effiong Lang
