Hi Gojilover, thanks for posting your system. Very impressive results you’ve gotten with it.
I had good results with it last night on EUR/USD, but today the results have been lower than 50% win/loss. That was with letting the stops and TPs work on their own without manually adjusting them to breakeven ASAP, though. I’ll keep trying it. I’m also setting up an Excel spreadsheet that will let me backtest using different TP/SL values to see if those can improve the results.
hi all
in case you are wondering. i did not trade today. i am a firm believer that if you do not feel well you should not trade. well, physically, i am fine, however, emotionally, i am not. i am not the type of person that gets depressed easily and am normally a positive person. that said, after the results of yesterday’s election, i just couldn’t bring myself to focus. i am feeling a tad depressed. now i know that some of you reading this may be ecstatic over the results. that’s fine for you. i believe in your right to disagree with me, thus we can certainly agree to disagree.
now, i am writing today, because, forget the simple and successful strategy, so far, for awhile. if you read through the threads you will see and read somethings about my nature. i hope these things are also just as helpful to you as the strategy is. above everything else, I DO NOT LIKE TO LOSE! i think i have said that seveal times already. thus, i believed that today may have been a day when i made silly mistakes because my heart and mind, especially, were not in it. i have also said, i do not view this as gambling because of days like today. I DO NOT NEED THE ACTION, so today i didn’t trade.
thank all of you for listening, i will be back tomorrow.
goji, bernie
Bernie:
You and I must be polar opposites - I am elated today plus I use an ema strat. on a 4H TF. I had one -18 loss, one BE, and one +38 for a grand net total of +20. But then what a boring world if there weren’t differences and as long as we act agreeably in our differences. good luck tomorrow., d.
orpips,
i will be interested in the results you get. remember, i started this with the u/chf and my tp and s/l’s were different. i switched to the e/u only because of the increase in spreads at oanda. when i moved to the e/u i shortened the tp and s/l. also, since i do not like the losers, although i know they are a part of trading, i would have numersous break evens rather than the losers. i know there will always be other trades with this system. thus, as soon as i get the +4, i move to BE. i may sometimes take the profit before it gets to my tp, or i will keep moving the s/l up and take the profit early. i await your research.
goji, bernie
Hi Bernie. My results for the first night (EUR/USD) were great. 59 pips on 14 trades, 71% win/loss. Then today it didn’t work at all – 6 wins out of 13 trades, and 2 of the “wins” were just break evens or a pip over. Today’s total was -24 pips.
My Excel skills are failing me in terms of making the spreadsheet work the way I want it. I tried Metatrader but not being familiar with it, I couldn’t get the script to be quite accurate.
hi all,
since i took the day off yesterday, i decided this morning to return to my roots with this system. i also knew the euro-zone was contemplating rate cuts today. quite frankly, i also wanted to get back to entering less trades. perhaps, it was my post election carry over mood. then, i just read the last e-mail before i started writing.
anyway, the first signal was at 8:32 am, however, I DID NOT TAKE THE TRADE. the spreads on oanda jumped up to 10 for both e/u and u/chf. i am sorry but i will not take those trades. thus, there was only one trade today:
8:56 u/chf long 1.1710
9:19 exit 1.1760, hit target of 50, as i went back to my 50, tp,
and 25 s/l
as long as the spreads stay at 5, or less, i may stay with the u/chf. the pace seems just a little slower. when doing this remember my goal for the day is a 50 pip profit, or two 25 pip losses, should your first two trades move against you, when using u/chf.
it’s now just after 9:30 and i am finished for the day.
see you real soon,
goji, bernie
TGIF,
hi all,
in spite of taking a day off, post election, it is good to rest your head every once in awhile, we were able to generate 131.5 pips on the week. not bad!
7:56 long 1.1730
8:17 exit 1.1742, using the 10 trail stop, had been to 52, +12
NO TRADES BETWEEN 8:17 AND 8:40 DUE TO JOBS REPORT
8:58 long 1.1720
9:07 exit 1.17135, using 10 trail stop, -6.5, +5.5
9:22 short 1.1705
9:27 exit 1.1705, at 1.1697, i moved s/l to BE, actually anticipated
move to 1.1695, which never occured
9:37 long 1.1745
9:45 exit 1.1764, using 10 trail stop, had been to 74, +19, +24.5
total for week; 131.5
have a great weekend all,
goji, bernie
Congrats on another good week, Bernie! I think the reason your system works well for you is you have good familiarity for the times/ranges you’re trading in (pretty much true for all methods, I guess).
For example, in today’s post you seem to have been using trailing stops much earlier than in your “rules” in the initial post, which said to move the stop to BE when you hit +25 and then use trailing stop of 10 after that. In today’s trades, it seems you move to the trailing stop or the BE much earliler. I think this is why no one else seems to be able to duplicate your results – your rules really aren’t rules 
It looks like the only real rule is the entry point, and after that you kind of feel it out (with consistently excellent results).
hi orpips,
i think you are absolutely correct. i never really wrote out a strategy before, and never for the masses. the one thing that i really hate to do is take a loser. if things move against you right off than there is nothing you can do, but take the loss. i think when i switched to the e/u, i started moving my stop loss sooner than my rules indicated. you should have read that i changed my TP ans S/L on the e/u, as such i moved the S/L much sooner. now, as i went back to the u/chf, i actually forgot about my initial rules for u/chf from the beginning. i think i will continue moving it sooner. i, again, do this because i much prefer a break even over a loss. the trades tend to come often, and i am pips ahead. why should i now give 25 back on any one trade? in fact, i just went back and looked. since i started doing this, i have had very few actual losers and the ones i have are fairly small. isn’t that the old saw, cut your losses early and let your winners run? this is what i really enjoy about writing this as you made me aware of a change i had made, but had forgotten about. i like what i am doing now better, but in the long run that may difficult to relate as in a strategy. that is also why i like to provide insight into my persona as this is what motivates me and maybe it will help others. you must also understand, i am a retired teacher and as such, teaching forces one to be flexible. the bottom line is all about the results and right now i am enjoying the ride. have a great weekend.
I agree completely. The problem for me is that as someone less familiar than you are to the method, the time, etc (and to trading in general, as I’m a newbie), I won’t have as good an instinct for when to cut losses. As a result, moving to break even for me would quite possibly just mean fewer winning trades or at least a decrease in the average gain on a winning trade, but not necessarily any reduction in losing trades – there would still be trades that go south right from the start with no chance to BE. I’ll continue testing; I’m testing everything I come across to see what feels right to me and suits my personality (and is effective, of course).
Hey Bernie,
I’m building out my strategy/system right now and technically I think I am using some of the stratgies you are providing, only mine kind of change depending on the situation hahaha…I’m working on that.
One thing I notice is that you are aware of NEWS. I am currently trading on an fxcm micro account but once I build up my balance I plan to switch over to Oanda.
I plan to trade this same time frame with my system. What sources are you using to be aware of news releases in the 8-12 range? Is there set times during this time period that news is released?
I too am a newbie but trying to figure things out that I might not want to bite me in the butt later!!:eek:
HI ALL,
HERE IS WHERE I GET MY NEWS INFORMATION FROM. IT IS FREE. I DO NOT KNOW CRAZY CAT OR SIR PIPS. THEY DO HAVE A SERVICE THAT YOU CAN BUY THAT FOCUSES ON TRADING THE NEWS EVENTS. I DO NOT LIKE TO TRADE NEWS EVENTS AS THE SPREADS AT OANDA EXPAND GREATLY AT NEWS TIME AND THERE ARE OFTEN SPIKES, AND EVEN SPIKES IN BOTH DIRECTIONS DURING NEWS EVENTS. I VIEW TRADING NEWS VERY CLOSE TO GAMBLING AND I HAVE ALREADY VOICED MY OPINIONS ON GAMBLING. ANYWAY, YOU MUST REGISTER WITH THEM AND THEY WILL SEND NEWS INFORMATION PRETTY MUCH ON A DAILY BASIS. AS YOU HAVE WITNESSED, I USE THE INFORMATION TO TELL ME WHEN NOT TO TRADE.
From: “Forex Peace Army” <[email protected]
Forex Trading Signal for November 06th, 2008 has been posted.
The signal was posted in a password protected area of our forum,
and only subscribers to these signals like you get this password.
Your password is: AVAILABE UPON REGISTRATION
Follow the link, then click on “Current Forex Trading Signals” and it
will ask you for the password. Simply enter it, and you will be able
to read the signal, and watch the video if you wish.
Try to follow those instructions EXACTLY and see what happens. 
Please enjoy
-Crazy Cat and Sir Pips
1617 Broadway St., Suite 1001
New York, NY 10002
USA
Click on the Tools tab at the top of babypips to get lots of news information and you can try the forexfactory.com site. They have the information on the front page.
This is very straight forward. Traders must learn to wait to trade in the direction of the moving average or else you are swimming upstream. I have gobbled many pips this way.
Is this because you are not interested in speculating or because of the Oanda spreads?
hi eddie,
BOTH! the news can certainly destroy the trend and i have seen, on rare occasions, the spread on the e/u go from .9 to 10. when trading the e/u i am only looking to make 12.5 pips with a s/l of 10. i know there are some people that do very well right on the news, i’d rather take about a 20 minute break. usually about 10 minutes either side.
goji, bernie
Thanks for your responses! Any reason why you look for that particular number of pips on e/u? I know the goal here is 50 pips…you looking to hit 4 winning trades? A lot of people are really critical of goal setting for some reason. My thinking is that the goal is to NOT lose any pips. Setting lower pip goals tends to increase the success rate, true?
I really like your system and am going to get started with it Monday!
hi ed, et al
some currencies are very volatile, g/y, as an example. i am not going to say that the e/u can not be volatile, it can be, at times. also, i am not going to say that e/u trends can not last awhile, they can. however, it’s movement’s are less than g/u, e/y, and, i find, even u/chf. also, on oanda i have my tp and s/l pre-set. thus, once in a trade, i simply move the s/l into the tp. I HATE TO LOSE, therefore, i am looking to move the s/l ASAP. there are times when this costs me profit, i know, HOWEVER, BREAK EVENS ARE MUCH EASIER TO RECOUP, all you need is any winning trade, than losses. i know i am sometimes redundant, however, with this system there will always be another trade and normally your wait is not very long.
later,
goji, bernie
ps. concerning the goals, i change them all the time. however, as soon as i hit 50, or above, i will walk away for the day. i am not married to my computer screen and i like to get my work done also, ASAP. like on fridays, i like to quit early, uaully around 10:00 am, though there are other days that i hit my goal even before 10:00 am, and walk away. again being redundant, i do not like to gamble.
Thanks for your response! I can’t wait to try this out in the morning. I will probably log some trades in this thread if it is ok with you. I’ll be trading e/u from 8-11.
1st trade: 0825 Long EUR/USD @ 1.28987 S/L: 1.28852 TP: 1.29090 TOOK PROFIT @ 0835 | +10 pips!
Stochastics were hooking up past the 20…the 5 ema crossed…almost touched my S/L but ended up closing past the 10 EMA entered and hit my LIMIT for +10.1 pips!!!
Trade 2: 0907 SHORT e/u @ 1.29090 s/l 1.29209 TP: 1.28984
5ema cross…macd closed shorter than previous time closed below the 10 ema…stochastics hooked below 80…hit my limit for 10 more pips!
