Update for 3-21:
An inside bar was made on the USD/CAD. The SMA seems to have a more defined downward trend than the GBP/USD did yesterday.
If my understanding of the system is correct than a sell entry 5 pips below the low from Wednesday’s session would be in order. Am I correct???
That is my understanding as well, so in my view you are correct. I have placed my order.
Interesting, on my chart the USD/CAD just barely isn’t showing an inside bar. The most recent candle is 2 pips lower than the previous.
I can’t attach pictures or screenshots via iPhone, but it’s definitely an inside bar on both my charting and broker apps. I think part of the problem is the timing used by our various brokers. I’m looking at mine as at midnight.
Here’s a screenshot of my USD/CAD chart. A drew a red line to show that yesterday’s candle is clearly lower than the one before. But again, its only a 2 pip difference, so could be different on other brokers.
Of course another factor is when your candles close! This probably makes a big difference. Mine close at 5am GMT+1.
Looks like it’s going to take some time for the USDCAD order to trigger…
Since it was quiet on the forex front with signals i explored other opportunities and decided to place one on the gold daily (50 sl and 100 tP) which showed an inside bar last night… and guess what ??? It worked!within 2 hours my trade was a winner. I had a winner this week on the euro/aud pair (not one that Toby advised to trade) but got 100 pip out from it…
Thxs Toby! I am still on demo but since i started begin of feb, my account went from 8700 gbp to 9900 gbp (iam based in UK) currently so iam not complaining at all! I will demo until end of april and my aim is to go live in may. I have been trying forex unsuccessfully for 2.5 years now but i strongly feel that iam on the right path with this strategy. Just wanted to pinpoint that with my broker (capital spreads) the candle finishes for the day at 22pm, then a new candle starts for the next day but this strategy seems to work all the same (Toby, i know your candle finishes at 00.00gmt). All the best to all of you
Isabelle
A question for Toby: My USD/CAD trade has been open for 11 trading days, during this time it was less than 20 pips away from TP and less than 20 pips away from SL, so the question is How long a trade should be open? Do you consider the time, or it is simply the case of either the win or loss is taken? Just to be clear my trade is still open and in red now.
SMA on USDCAD has gone flat. I guess pending short orders should now be cancelled?
same here with me sherif its been a while now, but patience is really vital here, i dont cancel any trade that triggered already, either win or lose.
dont cancel it yet!
Anyone looking at AUDUSD? IB forming, though a way to go yet until close. SMA pointing down.
It also looks like there is a buy signal on EUR/JPY.
Yes, both AUD/USD and EUR/JPY are valid signals on my charts.
First post, hope you all are going well.
Trading since feb 13, start EUR 1000, 1 microlot, system Toby’s breakout see post 1. Result:
Date close/buy-sell/Valuta/Pips/Euro
2012.02.15/buy/eurjpypro/-90,1/-8.80
2012.02.19/buy/gbpusdpro/118,5/8.98
2012.02.26/buy/usdjpypro/101,4/9.26
2012.02.29/buy/eurusdpro/-50,9/-3.79
2012.03.13/sell/nzdusdpro/-39,6/-3.84
2012.03.13/buy/usdjpypro/99,9/9.23
2012.03.13/buy/gbpjpypro/199,8/18.43
2012.03.14/sell/audusdpro/99,7/7.65
2012.03.20/buy/eurjpypro/180/16.27
Total: period feb 13-mar 25; pips 618; EURO 53,39 including interest -0,45; 6 winners, 3 losers.
Closed open order USDCAD before Toby posted not to close.
Question: does somebody trades other valuta/metal pairs with profit? Or will it be more profitable to increase the microlots?
Gr. René
thanks for posting your result reneblom!!! glad that your in profit with this system.
Hello everyone, a few orders places this evening (i use the 22pm GMT bar close) so all set for me.
sell - AUD/US
buy - CHF/JPY
Buy - EUR/JPY
buy NZ/JPY
sell - US/CAD
Some pairs i have added along the way and are not part of Toby’s list of pairs to trade
have a good week everyone
isabelle
all aboard the EURJPY. Little pullback right now though…
Bugger…actually i think i’m in this trade due to not taking into account broker spread. I only put a buy at 5 pips above the inside bar, and when it approached that price, my brokers spread just happened to be something terrible like 4-5 pips…meaning i’m in, when i suspect i should be.
lesson learnt maybe?? order should be 5 pips + broker spread.
Here’s hoping it eurjpy recovers.
