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pips info Jul 29, 2009 9:06pm | Post# 1421

I canceled my short because I did not like the wave movement. I will try again next week.

Is august a bad month for forex? anyone?
I think I am lucky this week, gain 113 pips from long and 70 pips from short on GJ. The wave in this week is same as last. Any way, I have can't complaint, it is still +ve number. If follow Ace's system, I think I should BE for both trade.

Calderone, I don't think anyone can answer your question if we are using 4 hour chart. I think we need to study daily or weekly chart then only can forecast which way it probably goes.

Read this article http://www.forexfactory.com/news.php?do=news&id=185801 , it may give you some hints.

calderone Jul 29, 2009 11:15pm | Post# 1422

I think I am lucky this week, gain 113 pips from long and 70 pips from short on GJ. The wave in this week is same as last. Any way, I have can't complaint, it is still +ve number. If follow Ace's system, I think I should BE for both trade.

Calderone, I don't think anyone can answer your question if we are using 4 hour chart. I think we need to study daily or weekly chart then only can forecast which way it probably goes.

Read this article http://www.forexfactory.com/news.php?do=news&id=185801 , it may give you some hints.

11andy11 Jul 30, 2009 1:04am | Post# 1423

Come on Droland, your smarter than that. If the system doesn't work without a high risk v reward in the long term than all increasing risk and reducing reward would do is get you to the poor house faster. I like your thinking though. Obviously noone likes a double stop two weeks in a row. Maybe markets are primed now for three nice winners in a row??

gustav213 Jul 30, 2009 2:08am | Post# 1424

Ive actually changed things a bit, and lowered my risk a lot but have been guaranteed a nice profit each week.

I only trade the GBP/JPY and set two entry one short and one long.

Then once one triggers let it ride to TP1 then mvoe stop loss to TP1 to lock in those profits, normally it has been pulling back but hey I got 100 pips on average.

It normally then goes back down to trigger my short and I do the same move stop loss to TP1, getting up to 200 pips on average out of both trades.

Yes I am not getting 300 pips but i has been working and I have been looking back and noticed on the GBPJPY this has worked.

Less risk which works for me.

GKnight Jul 30, 2009 2:33am | Post# 1425

Thanks
 
Hi Droland,
Thank you for this very informative post, I think I may adjust my exits to give this a try, with a larger lot size of 1.5 like your suggestion.

I know the general rule is to risk max 3% of your account per trade, but with this system we are looking at larger moves and also up to a week per trade (longer time frame) so your suggestion of 7.5% seems reasonable with a higher win ratio. Has anyone backtested to see what the win ratio would be at TP1.5??

One thing I have always hated was math lol, I am glad you have givin it some thought and shared it with the rest of us.

G,

I would like to present a concept different from my trading plan and more in line with Ace's method.

This is plain mathematics, not a new trading stategy....

nubchai Jul 30, 2009 8:52am | Post# 1426

I think I am lucky this week, gain 113 pips from long and 70 pips from short on GJ. The wave in this week is same as last. Any way, I have can't complaint, it is still +ve number. If follow Ace's system, I think I should BE for both trade.

Calderone, I don't think anyone can answer your question if we are using 4 hour chart. I think we need to study daily or weekly chart then only can forecast which way it probably goes.

Read this article http://www.forexfactory.com/news.php?do=news&id=185801 , it may give you some hints.

Great job guys. I banked 110 pips from the long & short combined - GJ only.

Sandy

GenTarkin Jul 30, 2009 1:52pm | Post# 1427

gosh, same thing happened as last week. ugh, annoying...I think I am gonna sit the rest of this month our since its known to be one of the worse trading months. I dont know if will sit out august either, guess depends on how next week looks.

Ben-1 Jul 30, 2009 2:02pm | Post# 1428

I don't know how you got that 400 pips but i followed the stretegy to the letter and i am down at the moment close to 200 pips.Can you please post your entry and exit so as to be able to correct what i did wrong.
To Garfield 75 and G555
Thank you so much for your input last July 22. Last week was the 1st time I used ACE'S method w/c found me over 200pips in the hole in the middle of the week. Thanks to you guys i came out winning not much but at least it is still a win (27 pips)
Since then I have been following what you were doing.This week and i found myself up around 200 pips.In ACE'S method you need ice water in your veins to stay in the trade If you panic you lose.Anyway I stuck it out.I was not use to having a large SL but necessary.Thank you also ACE for sharing your strategy.

Ben-1 Jul 30, 2009 2:35pm | Post# 1429

Hi Tdp,

I am using "Waddah_Attar_Explosion", a custome indicator which downloaded from FF, plus OBV to check on the volume change. As you can see from my attached chart, the buy volume is getting less and change colour to red (sell); by that time, OBV also moving downward. it mean selling volume is increasing. However, it ur own decision during this time whether to keep it on or take what ever it is good, as long as it is +ve figure or take the minimum lost, don't hope, trade along with the trend.

Btw, from my previous post, I said short is...
Thanks for the indicator, where can i go read up on this indicator. I did not know this has a built in alarm . How do i shut it off. i tried deleting it but keeps coming back on .

geribosi Jul 30, 2009 3:11pm | Post# 1430

Thanks for the indicator, where can i go read up on this indicator. I did not know this has a built in alarm . How do i shut it off. i tried deleting it but keeps coming back on .
hi Ben,

You can go in Indicator propertis and change the Alerts to false - you can also set the nr of alerts you'll get to 1. Also I beleive that there are several postings in FF that explain the indicator use or give outside links to other forums. Just do a search in the forum.

Cheers,

garfield75 Jul 30, 2009 6:23pm | Post# 1431

End of 2nd Week
 
This was my second week of live trading using this system. Made 440 pips this week.

842 pips in total for 2 week. Not bad for couple of weeks when the system hasn't performed well.

Next week I am use G/J, E/J, A/J and Ch/J.

cheers
Garfield

Ace284 Jul 30, 2009 7:04pm | Post# 1432

Hi Garfield. I use the RS indicators and like them a lot. I can't remember where I found them. They're attached for you and anyone else who might like them. I apologize for not zipping or archiving but my archiving tool doesn't seem to be working.

For EU just open the Eur indicator and format it the way you'd like it. Then drag the USD indicator on top of the EUR and it will overlay. You can then format the second indicator the way you want it.

Sandy

P.S. I have to upload 1 more to complete the set. Please see my next post.
How long have you been using these indicators?
Been noticing something awfully strange about its performance.

geribosi Jul 30, 2009 7:17pm | Post# 1433

This was my second week of live trading using this system. Made 440 pips this week.

842 pips in total for 2 week. Not bad for couple of weeks when the system hasn't performed well.

Next week I am use G/J, E/J, A/J and Ch/J.

cheers
Garfield
Hi Garfield,

Can you please post some charts with explanations on trades you took and your exit strategy?

Thanks,

pips info Jul 30, 2009 7:32pm | Post# 1434

1 Attachment(s)
Thanks for the indicator, where can i go read up on this indicator. I did not know this has a built in alarm . How do i shut it off. i tried deleting it but keeps coming back on .
Hi Ben-1,

I have forgotten where I read about the indicator because I have tried out too many indicator for the pass 1 year and it is one of the indicator i think uesful. However, I think you should be able to find it thru search engine.

Btw, you can shut off the arlet by:

1. go to edit indictor (menu as per picture below will appear)
2. select input tab
3. change the default arlet value, 500 to 0

Good luck!
Click to Enlarge

Name: untitled.JPG
Size: 35 KB

garfield75 Jul 30, 2009 8:26pm | Post# 1435

1 Attachment(s)
Hi Garfield,

Can you please post some charts with explanations on trades you took and your exit strategy?

Thanks,


I have attached my chart for this week

1) Long entry open 3 position. BE on the other side of the box.

2) TP1 hit. Close 1 position. Move SL to BE.

3) SL hit on remaining long positions.

4) Short entry with 3 position. BE on the other side of the Box.

5) TP 1 hit. Close 1 position. Move SL to BE.

6) SL hit. Done trading the system for the week.

One of my broker provides SMS service, where I can setup to receive sms whenever a currecny pair reaches a certain buy or sell price. Whenever my TP1 hits, I get an sms, then I can just login to my MT4 platform and move my SL to BE.

Hope this helps you to get more pips.

Cheers
Garfield
Click to Enlarge

Name: Week of 24th July 4 hours.jpg
Size: 55 KB

Ben-1 Jul 30, 2009 9:19pm | Post# 1436

Hi Ben-1,

I have forgotten where I read about the indicator because I have tried out too many indicator for the pass 1 year and it is one of the indicator i think uesful. However, I think you should be able to find it thru search engine.

Btw, you can shut off the arlet by:

1. go to edit indictor (menu as per picture below will appear)
2. select input tab
3. change the default arlet value, 500 to 0

Good luck!
Pipinfo/Geribosi
Thank you for your help. I appreciate it very much.

andys0506 Jul 31, 2009 10:26am | Post# 1437

how to minimise the problem?
1. Put 2 position (sell stop 2 position, buy stop 2 position)
2. position (let say Sell triggered)
3. TP 1 position at 1x box range, move to BE other 1
4. let it ride until 4x of the box (many time it goes to 3x box)

happy that way. just my opinion
Agree, thats how I would try and play it

nubchai Jul 31, 2009 1:09pm | Post# 1438

How long have you been using these indicators?
Been noticing something awfully strange about its performance.
About 2 or 3 months. I check the cross and then look at the strength indicator (text upper left) and it helps with trend changes. They seem to work better on higher timeframes. What are you noticing?

Sandy

nubchai Jul 31, 2009 1:20pm | Post# 1439

Just as an aside I've been reading some of the boards where they discuss the GJ. It's a bit funny in that many predict a major drop in the GJ but it continues upward. Also even though it's the summer when trading slows down, I guess there are some volatile moves in the forex world in August. In short no one can predict anything

With the Ace system the nice thing is we can put the pending orders in and let the PA determine which trade is taken. I'll continue to trade this week and through the summer. It's a proven money maker.

Sandy

Razor_trader Jul 31, 2009 5:17pm | Post# 1440

Just as an aside I've been reading some of the boards where they discuss the GJ. It's a bit funny in that many predict a major drop in the GJ but it continues upward. Also even though it's the summer when trading slows down, I guess there are some volatile moves in the forex world in August. In short no one can predict anything

With the Ace system the nice thing is we can put the pending orders in and let the PA determine which trade is taken. I'll continue to trade this week and through the summer. It's a proven money maker.

Sandy
The reason the market is going up, whilst some are predicting it too fall is the same reason why it still held will the Sub prime was going on. Bullshit sells until truth tells. The message coming from Obama is that we are back on track and everything is rosy again, despite the trillions of dollars printed (as recently as a few months ago). There is a lot swept under the rug and it is a matter of time before it comes out again.

Alot of people are predicting the bottom to have been hit and other are saying that it is not possible for the recession to be easing. Considering the scale of the problem, and the likeness of past depression/recession, plus the state of the US financial system/housing/bonds ect it is very unlikely that the US is even close to be "a'ok". Will the bullshit talk play or is the country really picking up. Im not sure but here in Australia, we have weathered it better than most and even here it still looks shaky.

Razor


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