Hi guys,
been lurking for a while now, decided to make a post since this week was really bad for me and had a couple losses now.
currently still in
USD/CAD long @ 1.3042
CAD/JPY short @ 91.98
entered when 1 and 2 crossed 4
Andrew
Hi Andrew and welcome!
Yea it was a frustrating week for most of us. First week of the month is always tuff, because of the bank rate decisions and minutes meetings. Next week i believe will be a better week for all of us!
Hi, it was a losing week for me too. Went long on USDCAD earlier but got stop out 100 pips entirely. Didnt close trade in time to minimise loss.
Next week will be a better week!
Hey guys, I made a new system kind of haha, check it out!! I’ll still be on here like normal though don’t worry!
Nice. How has it been working for you so far?
So far pretty good Fotovinic! I like it a lot myself haha
Any pairs you guys are taking note of this week?
I’ve been doing a lot of testing of my other system just to see how it fanned out, I might need to make another adjustment with it. But for this week EURAUD does look like it might give a crossover on the 1 and 4 and go lower. That’s all I really looked at for now. Kind of slow week I feel like all the bank holidays this week might have had a effect there.
Just entered long on CADCHF this morning. Hope for the best
Hi all
How’s it going? So I have been reviewing my notes and this journal and realized that it has become too complex and that a simple system that worked was over complex on my graphs. To ForexPhantom’s idea to have the moving averages at the bottom to keep the chart clean for price action viewing should be the order of the day.
So I am back to the original design and will post my trades accordingly.
I have the following
NZDCHF sell @ 0,64812
NZDCAD sell @ 0,88346
GBPUSD sell @ 1,54588
EURNZD buy @ 1,67046
AUDNZD buy @ 1,06843
75 SL
Deciding on either trailing stop loss or just letting it run
Yes, I do agree that we may sometmes deviate too much until the gist of the system is gone. Are you using back the base system in its entirety?
[QUOTE=“Fotovinic;728958”] Yes, I do agree that we may sometmes deviate too much until the gist of the system is gone. Are you using back the base system in its entirety?[/QUOTE]
Hi Fotovinic
Yes Only the 1 and 4 LWMA.
I also look the support and resistance to limit false signals.
Some candle patterns as well like your hammer etc.
Ps
System is still very profitable and I am and have been in the green. I just took a break as the charts being messy which was not the intent of the original idea.
[QUOTE=“Snipes;728834”]I have the following NZDCHF sell @ 0,64812 NZDCAD sell @ 0,88346 GBPUSD sell @ 1,54588 EURNZD buy @ 1,67046 AUDNZD buy @ 1,06843 75 SL Deciding on either trailing stop loss or just letting it run[/QUOTE]
NZDCHF +19
NZDCAD +97
GBPUSD +21
EURNZD -75
AUDNZD +58
Had a trail stop for 20-25
Only one stopped out 
Snipes,
How long before you TP? Next cross?
[QUOTE=“anklerep;729161”]Snipes, How long before you TP? Next cross?[/QUOTE]
Hi anklerep, for now it’s just using a trailing stop of 20-25 pips. Not ideal and not maximizing the profit potential. But profit is profit. Doesn’t help chasing the big amounts whilst having big losses in between. My view.
My little forex experience taught me that each of us is different and no matter the system some will fail and some will succeed. Also, if there was hard and fast rules for all trades then there would be many more profitable traders and full time traders. If you have time to review all the posts here you will see many filters, SL and TP strategies, most work for the individual but not for all. Best is to ensure your journal has the details of your trades and do your reviews so you can refine. I also get the risk reward ratio thing but I feel it limits you and the potential of your growth and rather look at risk exposure of my total account and increase or decrease the lot sizes depending how the account goes.
Hi all In on GBPJPY sell @ 184.811
100 pip SL with 30 pip TS
Hi Snipes,
Was the use of the 2 LWMA as a part of the system bringing you losses?
I understand that for you it’s now just the cross of the 1 and 4 LWMA but it seems that you take a trade if there’s barely a cross. For example on the GBPJPY I’m not seeing why you would have taken that trade as the LWMA are flat and on top of each other.
Thanks.
David