Usd news is hard. You would think strong us news spurs the dollar. Sometimes it just spurs risk on mentality. Which is good for other currencies.
Heiken Ashi i just use to make the chart more pleasing on the eyes, i dont follow the signals 
more interested in chart patterns, swing highs + lows etc.
Comment on the actual chart and what yours look like!
Just that those candles obscure the meaning of the japanese candlesā¦like bullish or bearish engulfing and pin bars etc. I guess waiting for a change in color at a fib retrace level works tooā¦each to their own 
I canāt post my chart cuz Iām at work, but I see a down channel of lower highs and lower lows, and other than not waiting for a bearish sign in the resistance area, you could be right or wrongā¦only when the trade is closed will you know which. 
I used your approach to it this week, so far Iām up ~1850 pips.
The simplicity is ridiculous! Letās see if itās profitable in the long run!
Iāve taken my own trades on mgās methods and have made 1500pips since last tuesday, iāve never gained so many pips before, it also could have been another 500-750 more had I not closed trades off early.
This was trading 10 pairs
also to note that iām not stressed out trying to find the entry point and totally relaxed leaving it each day, I did have quite a large dd against me over the weekend (-1000pips) but I was confident the gaps would be closed and with further drops on the jpy pairs I had going, and with in that day iād gone from -1000 to +1000 and currently have 2 short positions that are 100pips+ on the chf/jpy and usd/jpy
Thankyou MG for making things so clear
D-Pip what is that you are doing exactly? If you see a downtrend your setting your stoploss just above the previous weeks high? And uptrend stoploss below the previous weeks low?
Well, lesson learned. Donāt base decisions on pre-news release speculation. I set a moderate SL, not too tight, last night on USD pairs in fear that they would turn on me ahead of Bernankeās testimony. This morning, they still hadnāt been hit, but then about 30 min before the testimony began, my EUR/USD was hit. All I had read all week was dovish, dovish, dovish, cutting stimulus off early, etc, but then after seeing the updates on the testimony after the first 30 min of it, it was anything but. Stimulus still in tact, assurance that assistance programs coming to an end this week will be met with other assistance programs aimed at continued growth, etc. I have now removed my other SLs as they have continued to take off in UDSās favor and I have jumped back in the EUR/USD short, anther giant no-no, but I shouldnāt have gotten out in the first place. Lesson learned. Watch price, turn off the news.
Didnāt set stops. :56:
Last week the only position I closed was my AUD/CAD short when a daily candle [B]closed[/B] above the previous weekās high. The daily [B]close [/B]above the weekās high seems to be a good sign that the down trend stalled, changed or just wasnāt happening anymore.
A quick [B]spike [/B]above the previous weekās high or low might be acceptable, but the daily close seems to confirm the break.
If it was a real money account I would set some type of an emergency stop maybe something like 1.5x the weekly ATR. Or a fixed number of pips, easier to place with the platformās pre-set default trade feature.
This week Iām trying something a little different and a bit more complicated. Running two demo sub-accounts with a few modifications/tweaks of last weeks strat, Iāll report back if the results are deserving.
Had two trade close both hit my SL. EUR/NZD and USD/NZD. Both losses total 1.52%.
Iāve re entered USD/NZD long this time. I didnāt check the euro because I didnāt even know it hit until just now lol.
Also thinking about trying demo with double the position size or 1.5x. Just cause I like a lil more risk :-D. I might even try it live lol
I was actually just thinking that. Iām being a bit choosy on the trades I enter, so I think I could take the added position risk. Weāll see how it goes thoughā¦
I know you do not like to count pips MG but am I just lucky or following your strategy well. Since the close of New York on Thursday I am up 1400 pips. I have to say this is crazy. Thanks.
Focus on exit strategies now. Everyone works a little different on these.
Hey MG (and other contributors!)
Thanks for starting this thread and sharing your methodology with us - seems like such a simple way to approach things!
Howās this for an exit strategy? This isnāt what I normally use, but I discovered this tonight, and it makes sense. I like to look at the charts every night to get an idea of what Iām looking for at tomorrowās NY close. I glance at every chart w/o the thought of which trades Iām already in. Usually, I see a chart and think go long, then I switch back to my acct and see that Iām already in it long, which just reaffirms it for me. Tonight, I looked at AUD/CAD, and went to make a note on the word doc I keep to remind myself what will constitute a trade tomorrow that I wanted to short this pair if another strong bear candle formed. When I switched over to that word doc, I saw that I was in a trade on that pair long. So now my note reads, āanother bear candle, set SL.ā Thoughts on this? Iāll post the chart and maybe itāll spark some discussion on a moderate gain. To me, itās easier to exit from a trade that youāre up a ton. On those you can wait a day and still be up a ton. On trades with small gains like this, a day could be the difference between ending up in the green or red.
As you can see, itās already retraced a bit on me, and Iām still around +50, but to me itās looking like itās coming back. I want to give it more time, but part of me wants to set it now since Iām not up all that much. I got in @ 1.0436.
It worth a shot. Sounds logical.
Anyone have any thoughts on Eur/Nzd? Iāve noticed that after the big drop, itās been channeling up. It just recently bounced off the bottom channel.
Below is the daily chart.
My bias is short, however if the current candle closes above the previous, Iāll be looking to back out of my position.
Jumping on the Mastergunner strategy bandwagon! (in demo) I am very interested to see the results of a more laid back style of trading.
Ill update you guys on the results, the only change Iāve made is the exclusion of pairs that are ranging.
Bitters
You donāt have to completely exclude them if theyāre ranging. Just hold off until a bias develops. You donāt have to trade all 28 pairs at once, just monitor them. Last week I only took 7 trades and this week Iām only in 11 currently.
Thanks for the input. I actually got in last night when I posted and am up 47 at the moment. Weāll see how it goes.