Took 20 pips on that EU trade from Friday. Didn’t trade Yesterday or today. But tonight I got a good long signal in EU so I am entered a new position at 1.12433 with a 100 pip stop. Will be back tomorrow with the update.
Took roughly 15 pips from EU today. I have a better understanding what to look at for drawdown and am going to apply it tonight.
From what i can infer from my data, EU is posed to long again but its going to be similar to today which is not attractive to me. That being said i have a long limit order set at 1.1195 and a stop at 1.115. If EU hits my price I would love to be long as i espect EU to end up above 1.125 by the end of tomorrows asian sesion. If not EU can suck it, she’s not trending how i like anyhow. Will see what hapens
Wasnt right on EU but im glad i only lost 24 pips on the long because i entered via limit order. Im expecting a nice short tomorrow.
enteret short at 1.1173 with a stop at 1.125
What’s up Legond, long time no talk.
I recall seeing you in Pete’s VSA forum, which is where I’ve first came across your strategy. What about your winners differ from your losers? Besides being winning or losing, is there anything from the two that you bring forward into your next trade? I could’ve sworn your strategy was based on supply/demand, right? So I’m familiar with locating buying/selling on charts myself.
Hey Upcomer, hows it going?
I have been working on connecting the dots between my system and what I recently added to it a month or two ago. I now also compare how the base currency moves against the quoted currency to add a some extra insight on what the market did over the collected time interval.
Tomorrow I will hopefully be able to post what my spreadsheet actually looks like and try to break down how I analyze it. I trade via discretion based off 10 -20 different values my algorithms calculate. I have been antsy about posting the actual stats but have decided it would be beneficial to me if I started posting pictures of the data online for me to easily pull up quicker than all these spreadsheets. Hopefully I can have more references to trade off of if I can just pull up my journal and see the stats for days back on the same page. Will be incorporating this soon.
For now I haven’t had much time to put into organizing my system into an easier to read and study fashion. My spreadsheet is vast and I have a lot of meaningful measurements I like to look at every single night. It’s hard to figure out how to simplify it even further when in reality I would still like to add more over time.
Anyhow I’m back to trading tonight and just recently entered at Short position in EU with a nice stop loss (much better than my standard 100 pips).
Entered my EU short at 1.125 and have a 40 pip stop at 1.129. I have an order set up to close out of half the profit at 1.12 (the closest step I have had to setting an actual TP).
Honestly I don’t expect much movement from EU, but we will see tomorrow.
Didn’t have time today to post what I wanted to. But will get around to it tomorrow I hope. I’m glad I only lost 40 pips on the EU trade today. Smaller stop losses is greatly going to increase my returns! Made back another 10 pips off a long position earlier, but I’m done trading for the week. Data doesn’t look good to me, EU looks good to short tonight but I’m not interested. Hopefully I can post some pictures of what I’m working with tomorrow.
Hey Leg0nd, just wanted to drop by and say hi. I haven’t logged on in like years and saw this was still rolling. Good job.
Preciate you dropping by Meihua, we should chat sometime. I have still been refining the system and I feel like I’m getting closer and closer to my goal which is exciting.
Anyhow, I got a solid signal to Short EU tonight so I went ahead and entered at 1.13555 with a stop at 1.1410. I don’t expect much drawdown from my entry which is an added reason to place the trade.
Be back tomorrow with the update
Yeah let me know man. I am sure it will be an interesting convo.
Sounds good. Took a short break from trading. I’m thinking over the next few weeks I’m going to redesign the rules on which I trade upon. The Data I have is good, I believe the algorythm is nice but I need to figure out exactly how to correctly interpret it so I can trade it correctly. I will send you an email soon Meihua. I have some questions I believe you may have a few answers for. In the meantime I hope everyone is trading well!
Hello fellow traders. I am back, aged a year or two and ready to tackle FX again. I have a renewed passion and am ready to start collecting some pips! I’m currently in the back testing stage in my current system and am ready to start forward testing it as I continue to back test it. Most people argue you need to back test a year, or at least 3 years etc. but while I spend the incredible amount of time I would like to forward test it as well and trade demo. Sounds reasonable yeah?
Anyhow my newest system is much simpler and easy to trade than my previously traded system 13. Much like system 13, I wait until the end of the day, collect the data, run it through my spreadsheet, analyze it and place my trade. Now that I moved to Indonesia, I have to wake up at 4 am just to check to see if I have a good signal to trade (how unfortunate, but trading takes discipline). After I enter the trade, I hold it until until the beginning of the next day and repeat unless I get stopped out. I have decided to run a 50 pip stop and no take profit for this system. I will trade as many currencies as I get signals for. From what it looks like, I only get about 5 signals per month per currency, So I hope to get at least two or three signals each week. I don’t expect two win every trade, yet I desire to be profitable. With that being said, I look forward to the rest of the year!
I will be back when it’s time to trade!
Woke up extra early and yet no trades. Hopefully tomorrow will bring some pips
I have two trades today! Awesome. I tested the top 10 pairs and had a few signals, however most of the prices had a gap at open during the previous day. I don’t trade those days because I generally get a bad signal. However, I got a good signal for GJ short, and I am willing to Sell GN as well even though it had a gap at open. If GJ is going to short and both charts look similar right now, I’m willing to take the GN trade too.
GN Short entered @1.88862
GJ Short entered @1.48994
GN moves a lot so I made an exception. I will be using 100 pip stop for GN only.
I will be using a 50 pip stop in GJ.
Let’s see what happens
Trade Updates:
GN = +50
GJ = +20
Looking good so far, I can not wait for the Pound’s PMI data to be released in a few hours! I expect the market to continue the downtrend after the rate is released.
Been testing the system so far so good. With 4 pairs tested for October I would have netted over 1000 pips profit last month which is good because I only need 1000 more pips to achieve my 2000 pips a month target. I’m going to finish testing another 2 pairs today and see where I am at.
Will be back later, Im not sure if I am going to close these trades at market close or what. I am confused about the time difference here compared to the USA…
I made a mistake! After I saw that the PMI rate was better than expected I looked back at the charts and saw that there was a price gap yesterday at 0000 which is a indication i have a faulty signal. I will pay more attention in the future to this and what better day to learn than my first day back trading
I closed my GN trade for 9.9 pips. I took a long position to hold for the rest of the day, hopefully I can squeeze some more pips out of GN.
GJ I lost 14 pips or so and also longed to hold until end of the day.
GJ Long at 149.190 SL 50 pips
GN Long at 1.88825 SL 100 pips
Closed out my trades for the weekend. I will not be taking any trades with a gap at the start of the previous day.
That being said,
I took 33 pips in GN and lost 10 pips in GJ (mostly spread).
I’m back! i’m thinking about starting a new thread for system 14. But we will see.
Today I have a lot of trades!! Today is the real test. I’m trading a demo with $100 and i am using proper risk management. each trade I can only lose a max of 2.5% account balance! If I reach my goal this month I’m trading live in december.
Today’s trades:
EU Short at 1.16076 SL 50 pips
GJ Short at 149.436 SL 50 pips
GU Long at 1.30744 SL 50 pips
UJ Short at 114.262 SL 50 pips
I will be back tonight with some updates. Looks like a really good day to trade. I expect a lot of volatility.
Yesterdays results, traded a new pattern in GJ and read it incorrectly and lost. Took note of it so next time I trade the right direction… still did well despite one loss.
EU: -.7 pips (If I had got open price I would have won around 1.6 pips)
GU: + 94.1 pips
UJ: +27.4 pips
GJ: - 50 pips
71.1 pips total profit
Overall my account balance went up 3.14% off yesterdays trades The risk was a little less than I originally intended… so I upped the trade size a little today.
Today’s trades are very hard to read, all these are patterns I have never seen before except maybe one. But if I follow my rules correctly I should still be able to trade them.
EJ Long @ 132.282 SL 50 pips
EU Long @ 1.16103 SL 50 pips
GJ Short @ 150.064 SL 50 pips
GN Short @ 1.89930 SL 50 pips
UJ Short @ 1.13941 SL 50 pips
Be back tomorrow with the results and new trades.
Good thing I am only trading practice this month. I already made two mistakes today. I traded EU which I should not have and I read GU’s signal wrong… I feel like an idiot making such a rookie mistake. I lost 50 pips on EU, and when I realized my mistake I lost 39 pips in GU. It was a good feeling cutting the GU loss short.
Anyhow my other trades are all positive except of UJ which may take some more time, I’m confident these other trades will offset the loss from EU and GU. I also added to my GN position because I didn’t have enough margin for the first GN trade. Normally I do not add to a position but since It’s still close to open I believe it’s okay today.
Rough day yesterday. lesson learned never add to a position positive or negative. I traded patterns I haven’t studied which is a no go. Today I took trading more seriously and only have two trades.
Yesterdays trades:
GN -100 pips between the two trades I think
GU - 39 pips
EU - 50 pips
EJ + 27.2 pips
GJ + 16.8 pips
UJ +13.4 pips
My account balance went from +3% down to almost -2%. Lessons learned. Onto today’s trades. I got two great looking signals for UJ and EJ
UJ Short @113.813 SL 50 pips
EJ Short @132.014 SL 50 pips