Great Trading Strategies

The conditions lined up for the 12:30pm GBP/USD long trade. Here is the setup:

Entry Price: 1.5707
Exit: at the open of the 3:30pm CST bar
S/L: 1.5777
TP: 1.5717

Based on current price movement, I recommend taking this trade with a lesser lot size.

Good luck!

The 12:30 GBP/USD just bottomed out on me. Good thing this isn’t real money for me. I’m down $450 in 2 days on 1 lot trades.

It sounds as though your spread is either quite large, or you entered the trade a bit early. However, the thing to keep in mind regarding all of these trades (and any system in general) is that all systems go through periods of draw-down. Judging any system based on a few days, weeks, or months worth of trades is a sure way to lose in the long run.

In addition, real profit is realized in the markets, not through systems, but through a good money management system (which accounts for your lot size and the speed of overall growth in your account).

Hopefully this helps! :slight_smile:

TT, thank you for the reply.

I feel I was unclear before. I’m in no way blaming you or the system. I chose to make those trades. And I am running the demo account very “hot” on these.

After all it is a Demo, I’m trying to make/break the system for me! It’s good to find out all the information I need to know now.

I am curious by what you mean on getting in too early?

My entry point on the 12:30 trade was:

1.5707 at 12:31pm cst
SL hit at 1568580 at 1:13pm cst.

Is it better to be a little late into the trade? 5 minutes?

Regards,
Hawktel

Ah, I see the problem. Your stop was a bit too tight…the stop for this trade is .0030 and your stop was set to .0022. This is why the trade is still ongoing from the original entry point, but your trade was stopped out…

I am glad to hear that you are testing the system, as it is wise to test any systems prior to deciding to live trade them. Another important factor with a demo account is to:

a. Trade with a lot size and balance that matches what you will begin your live account with.
b. Use your money management system during testing period in the same way that you would use in a live scenario.

Hopefully this helps! :slight_smile:

Ohh there is the issue. Thanks for the help! I’ll put it in and see if I can get on that trade tommorrow.

Thanks again,

The conditions lined up for the 3pm GBP/USD long trade. Here is the setup:

Entry Price: 1.5690
Exit: at the open of the 7:30pm CST bar
S/L: 1.5660
TP: 1.5700

We also still in the 12:30pm GBP/USD long trade until 3:30pm CST.

Happy trading!

The 12:30pm GBP/USD long trade did not reach TP or S/L, and we are still in the 3pm GBP/USD long trade until 7:30pm CST. The conditions also lined up for the AU open EUR/USD short trade. Here is the setup:

Entry Price: 1.3106
Exit: at the open of the 7:30pm CST bar
S/L: 1.3146
TP: 1.3096

Based on current price movement, I recommend taking this trade with a lesser lot size.

Good luck!

Good morning fellow FXers,

Sorry for the late update but the 3pm GBP/USD long trade did not reach TP or S/L yesterday, while the AU open EUR/USD short trade did reach TP.

The conditions also lined up for the 7am EUR/USD short trade. Here is the setup:

Entry Price: 1.3145
Exit: at the open of the 11am CST bar
S/L: 1.3205
TP: 1.3125

Happy trading!

The 7am EUR/USD short trade reached TP today. Here is how the trade played out:

Entry Price: 1.3145
Exit Price: 1.3125

Trade length: 1 bar
Profit: 20 pips ($200)

Due to the market’s early close today, we will only be taking one other trade.

Next trade: the 12:30pm GBP/USD long trade.

Good morning all,

Hopefully you had a great weekend, a chance to catch a breath, and are ready for another action-packed week in FX :slight_smile: :wink:

The conditions did not line up for the 7am EUR/USD short trade today. Also, be sure to carefully study price action today in order to determine if this bull trend has come to a short term end, or if we are currently experiencing a “fake-out.”

Next trade: the 9:30am GBP/USD long trade.

The conditions did not line up for the 9:30am GBP/USD long trade. Next trade: the 12:30pm GBP/USD long trade.

What are the settings and rules for this strategy

Thanks for the post Donald555,

The rules for each system can be seen here:

http://forums.babypips.com/newbie-island/37996-great-trading-strategies-64.html

The only one that’s not listed there is the 9:30am GBP/USD long trade. Here are that trade’s rules:

Entry time: 9:30am CST
Entry conditions: if the 9am bar closes up, enter long
Exit time: 6:30pm CST
S/L: .0040
TP: .0020

Hopefully this helps! :slight_smile:

The conditions lined up for the 12:30pm GBP/USD long trade. Here is the setup:

Entry Price: 1.5685
Exit: at the open of the 3:30pm CST bar
S/L: 1.5655
TP: 1.5695

Happy trading!

What does CST mean

I meant to ask what are the conditions that lined up.

                                                            Thank you

For the 12:30pm GBP/USD trade, the 12 noon CST 30M bar must close down. Please reference my post above for the trade conditions and stipulations.

Hopefully this helps! :slight_smile:

CST = Central Standard Time

The 12:30pm GBP/USD long trade just reached TP. Here is how the trade played out:

Entry Price: 1.5685
Exit Price: 1.5695

Trade length: 2 bars
Profit: 10 pips ($100)

Next trade: the 3pm GBP/USD long trade.