I lost on both this am with real money and will disable the live acct and strictly trade my demo. With the markets and the election this may not be the time to trade. d.
edit: I missed the good swissy trade by entering earlier, 09:10, and losing 15 pips. -24p on the E/$.
hi all,
as indicated i traded the e/u today. last night the spread on the u/chf was terrible, today it dropped to 4. the e/u satarted out at 1.8. i chose to adjust my take profit and stop loss numbers to 12.8 and 10.8. it is my experience that the swissy moves more than the euro, but things may have changed. as i indicated the back testing i did on the euro appeared to have the euro moving more. anyway, i wanted to see what the shortened tp & sl did to my trading. as such the trades were quicker and i do not have all of the trades to list. i did however hit my goal of 50 pips per day. i had five total winners, 5 X 12.8 = 64, i had three break evens and one 10.8 loser, thus finished with +53.2 pips for the day. +504.2 for the month.
i will try to get the trades recorded tomorrow, but i confess ahead of time, this writing is not the more important, my trades are naturally more so.
I certainly agree that E/$ has a better spread and adjusting the SL & TP is necessary for that pair. Oanda started out at 1.8 and then dropped to 1.2 while I was looking. Even the 1.8 was slightly less than half of the swissy. How did the breakevens come about - not moving much or whipsawing? I would have settled for that this morning as I couldn’t seem to find the good entry and follow through. I was thinking of a 1:1 R/R ratio by using the ATR for SL & TP so it will be interesting to see how your settings work. Good job.
hi dobro,
as soon as price moved to +4 i moved my stop loss to break even. i will admit that the breakevens get frustrating becuse often price does continue in a positive direction, afterward. however, there will always be another trade and that is how i eleiminate the frustration. i would much rather have a BE than a loss. i absolutely dislike loosers, anyone who trades knows that you are going have them and you have to learn to deal with them. if i had nine breakevens in a day, yes, i would have worked hard, i might be frustrated, BUT I WOULD HAVE LOST NOTHING. as such, i really am about eliminating as many losers as possible. nice communicating with you, and whomever else.
goji, bernie
hi all,
today i stayed with the E/U because of the spreads and also, i wanted to see how the E/U would fare two days in a row. i do have the four trades and their times today. i hope this helps.
8:23 short 1.12540
8:28 exit 1.25272, hit 12.8 target +12.8
9:06 short 1.2515
9:10 exit 1.2525, hit stop/loss -10, +2.8
9:22 long 1.2540
9:25 exit 1.25525, hit target +12.8, +15.6
10:13 short 1.2525
10:34 exit 1.25125, hit taret +12.8, +28.4
i decided to wrap it up for the day as i am still feeling my way with E/U.
the system is now up 532.6 pips since, 10-03-08. i am developing even more faith in this system than i had when i started writing this. right now it seems like this is the best system that nobody knows about. oh well, one month does not a system make.
later,
goji lover, bernie
I did not play today. The truth of the matter is that the only success in forex that I’ve had has been with long term strategies. Ash’s Daily & the 5/20 ema crossover on a 4H TF have been very good to me, both demo and live. That said it is very boring - not the making money part but once you are in a trade you just ride along. Ocassionally I adjust a SL or move TP but that is it. So I’m looking at a strat. to occupy time in the mornings and yours seems to fill the bill except I haven’t quite got the hang of it yet. The modified TP & SL for E/$ seems to be right on as per your last 2 days. I will demo tomorrow morning at 7 am CDT and see if I can grab some pips. Another low spread for me is the $/Y but like the swissy it can be kind of “spikey” - it may need more room than I am comfortable with or maybe a 15M TF would work. Lots to think about. d.
good luck dobro,
this is where it becomes difficult in trying to stay with a system. each of us are unique. a style i like may not be suitable to your persnality. right now, my trading has improved because writing this has made me stick to my plan, more than i might do on my own. there is no denying the success i have enjoyed lately. now we must address, is this simply a flash in the pan and ready to expire on any trading day, or is there a bona fide basis for the success. time will tell.
goji lover, bernie
hi all,
it’s now 10:00 am. it appears that things have gone into fed watch. as such, i will come back later and trade from 2:00 to 4:00 pm.
today’s trades: e/u
9:01 short 1.2760
9:01 exit 1.27475, hit target within the minute +12.5
9:21 long 1.2775
9:26 exit 1.27875, hit target, +12.5
total, +25
total since inception, +557.6
Bernie-
I guess I just don’t get it. I lost big this a.m., thankfully demo, but grabbed +166 pips on the 4H. Thank you for taking the time and trouble for sharing your strategy, I wish I could get the hang of it but some things are not meant to be. Good luck. d.
hi all,
i have to quit early today. i have some obligations. the trades:
8:21 ENTRY SIGNAL, not taken because of nearness to news at 8:30
8:44 SHORT, 1.3080 - 1.30775 +12.5
9:40 SHORT, 1.3015 - 1.30025 +12.5
monthly total, +582.26
well all,
all’s well that ends well! happy halloween also.
what a day. i had numerous set-ups that provided no follow through. this is where sticking to the rules really paid off as they would have absolutely kept you from chasing. chasing today would have cost you money. as such, with no follow through, the first trade did not occur until 9:36. it was a short at 1.2740. sure enough by waiting for a bona fide trade we got some follow through. i took the profit at 1.27275, at 9:38, two minutes, +12.5. as such this trade ended the day, week, and month. it was a very good month as this simple, little, system produced a whopping +594.76 pips of profit. those of you in the usa, remember to change you clocks over the weekend.
later all,
goji, bernie
I just looked over the chart today and have a question. Why didn’t you take the long on the 9:10 bar?
hi ryk,
first of all, i am using oanda. i know there can be some discrepency with different platforms. now let’s look at the closing candles. at 8:55, i have a close at 1.2741, and below the 10 ema. at 9:00, i have a close of 1.2758, and above the 10 ema, but the wick of the candle had been to 1.2767. with that high, the entrance would have to be at 1.2770. in fact i had a buy order at 1.2770, but price never got to 1.2770. as i said there was very little follow through on a number of candles today. this was one of those examples and from there the price dropped. remember, your entries should always be at the XXXX5, or the XXXX0, whether long or short.
please go back and review the rules. you do not enter off of the close, but off of the high or low, and then the next XXX5 or XXX0. i hope this clears this up for you.
goji, bernie
That was an oversight on my part today, I was looking at entries off of the candle close not the H/L. Sorry about that. Good trading!
ryko
hi all,
i just received an e-mail advertisement concerning the purchase of a strategy for almost $200. i know there are many such packages that i could spend money on and i am even sure that many of them are very good for certain people. however, i will use my very simple strategy as an example. obviously, it worked very well, for me. some others tried it and could not get it to work. just recently, a part of the strategy was over looked by one of you. over the years, i have tried a number of systems, only a very few did i pay for. most of them were, for me, lacking something. i continued working for something that would work consistantly for me. several months ago, i settled on this system that i found was working very well for the u/chf. anyway after several months of success, i decided to share it with whomever, via baby pips. now, half way through the month, i altered the strategy because of the spreads on the u/chf. i changed my take profit and stop loss signals and the system continued to be successful, for me. unfortunately, most people are not getting the message and i feel somewhat frustrated. should i advertise and charge for my system for it to be given some consideration? i think not. i will pobably write up the information for one more month. the only thing i ask from any of you is to let me know if you are having success with it. i really think you would have to work very hard to find a system that, in the month of october, produced almost 600 pips while having you work less than three hours every day. have a great week end. goji, bernie
I dont get something. Do you mean the nearest 50 or 100 level?
NO! the nearest XXXXX5, or XXXXX0!
I see. Thanks…
hi all,
new month! i noticed that the spreads on oanda returned to normal today. when i checked u/chf it did not look volatile and i chose to stay with the e/u. i do not like to trade multiple currencies congruently. that said it was another profitable but frustrating day. only one of the five trades had any follow through and the last one i exited without following any of my rules. i will explain.
8:10 short 1.2820
8:11 exit 1.2820 trade was positive 4+ pips, as such i move s/l to BE
9:32 long 1.2765
9:37 exit 1.27775, hit 12.5 target, +12.5
10:12 long 1.2770
10:16 exit 1.2770, as above, BE
10:21 short 1.2750
10:23 exit 1.2750, as above, BE
10:41 short 1.2750
10:43 exit 1.2745, there is no rule for exiting this trade, i was +5 pips and three of the other four trades all went back to break even. as it was nearing 11:00, i wanted to end the day with a winner. if you read all these threads you will know i do not like to lose more than i like to win. i will take BE after BE, just so it is not a loser, and wait for another trade. ON THIS PARTICULAR TRADE I HAD A PROFIT AND I TOOK IT. +5, +17.5 today. once again it seems the big trades hit after 11:00 am today. if this continues i will start working the extra hour.
last month: +594.76
hi all,
things appeared to return to being somewhat typical today, if you can call anything in forex typical. anyway, there was some follow through today:
8:11 short 1.2810
8:12 exit 1.2810 BE
8:23 long 1.2830
8:28 exit 1.28425 hit target +12.5
8:39 short 1.2800
8:43 exit 1.2800 BE
9:24 long 1.2840
9:30 exit 1.28525 hit target +12.5, +25
9:57 short 1.2850
10:00 exit 1.2848 10 trail stop, +2, +27
10:06 long 1.2865
10:10 exit 1.28775 hit target +12.5, +39.5
monthly total +57
previous month +594.76