I wake up shortly after 5am Eastern every morning, usually the trades that enter by then aren’t very far in either direction.
I base my stops on the price points. For example, if two entry points are within twenty points of each other, Ill put a stop 20-30 pips below the furthest one, but I haven’t witnessed any prices hitting the SL, then when I wake up I adjust.
yep. and i put a 20 pip sl on usd jpy lolol…but i think you carried it over then?
no more S/L for me under 30 pips, but ill increase t/p to 15 at least too
Although I have been followong this thread very often for the last month, I havent posted my results too much. Mainly because I dont fully execute orders according to FMM way, but to my own. Yet I watch the TP levels very carefully. Usually I open trades after the daily close and about 1,5 hours later FMM posts the signals at that time I’m already in a couple of trades. I am doing so because I have a day job and I dont have time to watch the charts. Besides I am not good at applying FMM’s strategy alone. I tried but failed. So I only do what I know to do with Ichimoku and candlestick formations. When I wake up in the morning, if I’m in +50 pips profit I move the SLs to the breakeven And go to work hoping to hit the TP levels in the day. I have had a very profitable month but in order to not confuse traders here I dont posts results on a daily basis because some of them are not in line with FMM strategy and with general money management rules. Sometimes I play aggressive when I have a successsful day. For example if I make a 200 or 300 pips in a day, the next day I risk half my winnings of the previous day. I am writing this here as a tribute to FMM in a grateful way and my monthly result is I doubled my account in April (from April 4th to today). Also I withdrew more than that profit, so actually I tripled my account. Thank you FMM and others for sharing your experience with us.
If anyone did not realize that yet, Short Term Signals for Euro/Jpy and other than the 4 major pairs are mentioned in the Medium Term Analysis at TP1 Tp2 Tp3 and can be traded according to trend direction of that pair.
For example if Usd/Chf is on uptrend, the Swing Trading TP1 Tp2 Tp3 are Short Term Signals sell orders while Vice Versa if on downtrend for breakout strategy you buy at Tps
But Take Note that sometimes they are not pure Short Term Signals as the 4 Major pairs especially when Tp4 or Tp5 are introduced.
Also, Tp lows and Highs can be traded as Short Term Signals as I previously mentioned on this thread past posts.
Take Note “Pippy” that you could had easily closed the Gbp/Usd first signal sell order at small gain or loss because as you remember price had hit second sell signal 1.6230/35(1.6232) and retreated to 1.6212(held well bt. 16112-20), also if you had also entered at second sell signal, you could had closed both orders at first signal price. Meaning , a winning combined trade.
Congratulations, Well Done Keep on…
Well, as I mentioned at past that the few days this happen and I get attention that market price moving near or already had hit one of the TP targets as yesterday, I do not post those target/s but the next ones.
About the Euro/Usd, while ending my post, market price had just hit 1.3180 and my first buy signal was 1.3175/80 and as price action and my experience showed me that price will go back and hit bt. 1.3175/80 and in fact that happened maybe twice as I remember.
For other pairs as Aud/Usd and Nzd/Usd too, I jumped into the second and other TP signals since market price had already hit it and I saw no reason to post as it will not have another try or retest of that level…
Yeah I saw last night the GBP was a losing trade. Those are pretty rare, and in fact if you take all 3 sell points you have the chance to ALMOST break even when it retraces downward and then bounces back up. And in my research of the past few months, taking all the entry points will result in a profit almost all the time. I’ve seen one that was a clear loser near the end of Janaury, but then the other trades make up for it on teh same day. It’s difficult to lose money with this strategy.
Hi FMM,
Thank you for bringing that to my attention. Due to my day job, I wasn’t able to put more effort into trading. But to be honest, in the few months that I’m trading (without your signals) I never had + 90 pips in 2 days :).
With some compounding intrest and 30 pips a day, I’ll be more than happy and soon be able to do some fulltime daytrading.
Have a very good weekend, and I’m really looking forward to another profitable week.
Kind regards,
The Short Term Signals are surely Counter-Trend or Bounce Trading Strategy as my first posts and others mention, just if newbies will take a look and read both strategies rules before using my Signals & Analysis and asking simple questions…
A Lady Trader once told me about this method as you’re using for trading, setting pending orders then going to sleep or your Job… But this method might also give you too much headache since most times market price do not move in an expected manner like it can reach 10 pips sometimes while 30 the other or 15…
The best to do in your case or others who can’t monitor the market price is to set TP according to resistance or support levels that they see price may hold or reverse from there.
Short Term Signals Exit might be very tricky if you are not monitoring your trades as you could be well hurt as setting TP at 15 pips but price goes to 13 or 13 and reverse fro there without giving you another chance in same day or soon time…
On the other hand, it might be successful when using it for the Medium Term Analysis since if in a trending market if you enter a trade in the right direction of market price if swing or breakout, you could gain fats pips setting TP1 as first target and so on…
Short & Medium Term strategy rules are mentioned in first and other posts where you can check TP, SL & other rules(Oh, Jesus Christ, Give me a break guys, Read Read Read)
Do not ask “Should” Konan, because that show you do not know what to do or you do not have a disciplined trading plan.
Set a Personal Trading Strategy Plan as TP, SL, Entry…at first then trade your account.
To make it brief, when trading the short term signals, watch price action and few indicators you’re used to trade with, set TP target in your mind to be 10-30 pips and what appear to be actual as market price move TP at that point while SL is at 30 pips but no need to reach there but few pips if you know what to do.
Same for Medium Term Analysis, set TP targets at TP1 or 50 pips if swing or breakout and exit at 50 pips starting to TP1 of opposite direction of your trade, but no need to reach that big number if price action show you swing is not working you exit and go breakout or simply stand aside if you don’t know what to do.
Exactly, Right Said. Good Luck for your trading days
Must had exited at small gain(if entered at 1.6220) or loss as price action clearly showed support signs…
Fantastic hearing traders here doubling and tripling their accounts using my Daily Signals & Analysis, this makes me feel happy that my work is finding good results for others and that am contributing in some way into your success.
If you’re not able to use my Daily Signals & Analysis strategies rules accurately, tell me what’s going wrong, what you’re not understanding?? and I’ll try helping you in the best way possible.
I did set s/l on that one right after your daily analysis post, as part of a pending order, but, at 20 pips (mistake i wont make again)…I couldn’t also tell what the Japanese were doing there based on the calendars or news…I need more experience and time to get the hang of this, but i gotta say it’s way more exciting then accounting lol
Still, all in all i did make a profit of 5 pips yesterday just based on those 4 short term pairs…Thx much!
Some examples of Short Term Signals Great Results for the major pairs(you can check the others if you like) are:
Euro/Usd First Buy Signal 1.3175/80 bounced to a possible exact 30 pips TP(till 1.3211 at that time)
Second Buy Signal 1.3160/65 market low price for the whole friday was 1.3157(pardon me for the 3 pips drawdown…lol) bounced and kept going up to first sell signal 1.3265/70(easy 30 pips gain) where price bounced back 30pips at 2 swings(up then down, up then down) but you only use each buy or sell signal for once, not keep entering 10 times…lol at same signal, even if market price kept bouncing as was with this pair first sell signal.
Gbp/Usd Reached second sell signal with a spike, so in case you were monitoring the market not pending order, you would not even have an opportunity(quick spike) to sell at first signal 1.6215/20 but second one 1.6230/35 where price bounced to 1.6212, so if you had entered at first sell signal by a pending order, you could had closed easily at small gain or loss.
Also, market price had hit third sell signal 1.6255/60(exact price hit was 1.6257) to then bounce to 1.6228.
first buy signal 1.6145/50, market price marked 1.6152(2pips difference), so it was an optional trade for traders to buy or not
Usd/Chf bounced from first sell signal 0.9115/20 20 pips, to later bounce from second sell signal 0.9125/30 that was the high price of the whole friday 0.9132(pardon me for 2 pip drawdown…lol) down to the first buy signal 0.9050/55(market price low price 0.9051) where you had as much as you want around 80 pips for the first(sell) and around 25 pips for the second(buy)
Usd/Jpy hit exactly first buy signal 80.45/50 in a spike down then up during the Crucial news release of Yen BOJ Monetary Policy,
so pending order traders were the most lucky with this trade, unless you’re too fast to click a buy order with that spike, Great Result of nearly 100 pips as price spiked from exact first buy signal 80.45/50(market price 80.48) to 81.44 that was near first sell signal that was 81.50/55, to later on go down to 80.48 too and bounce 25 pips, to then hit in late hours 80.27 where was our second buy signal(80.25/30) but since it was nearing market close time no real bounce but maybe 10 pips to then reach in ending minutes 80.20
Important Note Traders that Short Term Signals are market price trades, which mean when market price hit one of the signals if buy or sell, that’s when you enter a trade, meaning if you’re buying you do not wait for “Ask” or Buy to reach for example in Usd/Jpy bt. 80.45/50 but for Bid or sell to reach bt. 80.45/50 which briefly means when your broker mark the low price bt. 80.45/50 or you simply see the candle hit 80.45/50 so you ofcourse click the Ask or Buy Bottom in this case.
Also, Use the 5 minute chart for clear view.
Medium Term Daily Analysis:
At first, you use 5 minute chart for entries and exits using price action skills.
You set your mind for a swing trade in the direction of the trend as first option. Then wait for retracement to be hit and work according your price action skills to determine if trend will keep to enter a swing order or possible breakout to enter a breakout trading order which mean in an uptrend as swing you buy and as breakout you sell.
Usd/Chf performed at first a breakout to TP1 0.9115/20 then down to retracement again 0.9095(exact reached price) then from here performed another breakout this time to TP2 0.9125/30, from there bounced and performed a swing trade to hit TP1 0.9050/55
Usd/Jpy performed a mixed movement as the spike came during its news release but then kept the downtrend movement to perform at swing trade(sell at 81.10/15) when market got stable(normal volatility) to reach TP2 80.25/30 and end the day there(easy exit here)
Euro/Usd performed a swing trade at first for around 20 pips, before breaking down as breakout trading to Tp2 1.3160/65 that was actually the first target since 1.3275/80 was the retracement level, to then perform a swing trade again but this time to exact TP1 1.3265/70 for 2 times and never broke which was clear signal to exit here.
Gbp/Usd perfomed the easiest swing trade by not threatening a breakout strategy opportunity but easily testing retracement at 1.6150/60 and from there continuing the journey up to TP3 1.6055/60 and 20 pips more in late friday hours to reach 1.6280, but TP3 is our rule for exit so it was your own option to hold on more but not preferable for the long run trading strategy results as you may run away with a bonus 20 pips this time but not worth that risk for an each time strategy if at first few pairs reach in few days more than TP3 or TP4 sometimes.
Important rule for this strategy is you use only 1 swing and 1 breakout trading opportunity. Meaning you enter one swing then one breakout or vice versa per a single day trading if at one day there existed 2 opportunities especially in recent consolidating market conditions…
I’m not able to post such explanation at a daily basis but found that nobody is doing this work currently, so an enlightenment at our always achievements is surely helpful especially when we are talking about Very Accurate Daily Signals & Analysis, isn’t not nice to not keep the spotlight at while others might be happy with a 20+ pips far of daily low or high prices and TP targets if not whipping traders accounts, sadly!!
Hopefully, you are all having Great Trading Days with my Daily Signals and Analysis.
Ask whatever questions you like but try to Read Read Read both strategies rules and I’ll be excited to help you advance in trading the market.
Take Care! that’s not the way to ever do it. Never do a martingale trading opening all 3 positions in same direction then closing all together.
This time TP three targets where close due to low daily range pips but most times especially with the majors and this pair particularly the space or range bt. TP1 to TP2 is big as TP2 to Tp3.
You do not need to do that at first, price held well bt. 1.6112/20, so easily close both sell orders and get out with some 15-20 pips for both and wait TP3 1.6255/60(market had hit 1.6257) where price bounced around 25 pips to 1.6228, so a total of 45 pips not bad for one pair for the short term signal trading and more than 100 pips for the Medium Term Swing Trading.
150 pips for one pair not bad! even if you just focus in your daily trading on only this pair.
Sounds Great, I am Happy for you.
Do not Stress yourself into a mind frame of “must daily trade” especially in your job situation. When you come back or become available look if there’s an opportunity ni the market for any pair or pair you trade in the market, if not then skip that day with no trade, not a big deal, tomorrow another day another success story.
Dear Konan, as I conclude that was a swing sell order at 81.10/15 to TP1 80.45/50 despite seems that you entered way too late maybe around 80.80s that’s not applying my stratgey, if you had enter at swing 81.10/15 you have much pips at hand so no worrries to exit at TP1.
If you found yourself in mixed thoughts at any day, easily exit at TP1 if reached or turn TP1 to breakeven if market price looks approaching or heading to TP2.
Honestly, 5 pips profit is too low at such very high profitable day as Results I posted for that day for just the major 4 pairs show.
Anyway, try to improve by time and attach yourself to a disciplined personal trading strategy plan(Very Important)
Good Luck
No sir, I found it on the brok. statement just now. 2012.04.27 13:43
buy 0.10 usdjpym “80.450 (s/l 80.250 t/p 80.550)” 2012.04.27 20:47 80.250 ----- it was a pending order
based on Your short term levels: “Usd/Jpy Buy at 80.45/50 then 80.25/30 then 79.85/90, sell at 81.50/55 then 81.75/80 then 82.10/15”
I might have screwed something up, besides the 20 pip instead of 30 pip sl, totally possible sir, lol!
Thank You!