Tough decision on GU here...The candles say uptrend. but the fibo says I have reached 61.8 retrace.. and the risk is relatively small if I'll go short here.
Trade what you see, not what you think.
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
- | Joined Jul 2006 | Status: Will take it all off for Pips! | 1,105 Posts
OK, read through the WHOLE thread from start to finish & you will see how I trade. The purpose of a journal is exactly that, to record your trades for the world to see, good & bad.
If you wish to trade a method similar to mine that's fine, but I took a great deal of time & effort trying to come up with a method suitable for me.
If you can't see how I make a profit you haven't read what my method is.
Kind Regards
Steve
- Joined Jun 2006 | Status: Member | 2,512 Posts
I just came accross this thread and spent the last couple of hours reading it from start to finish.
Great trading!
I tried similar techniques before but never had the disipline or balls to stick to the system.
Hope the 12 months works out for you. (I'm sure it will)
And if it does, don't quit your job.
I would'nt change a thing.
Fair play to you Steve.
All the Best,
Donagh
- Joined Jun 2006 | Status: Member | 2,512 Posts
Well, it's been a bit of a mixed day so far....
USDJPY stopped out for minus 42 pips (literally hit my s/l then bounced back up lol)
EURUSD stopped out for minus 62 pips (again - today's high is 2 pips beyond my s/l)
However, on the positive side, USDCAD is currently up 109 pips, GBPUSD currently up 206 pips & USDCHF currently up 190 pips (with 177 pips locked in). Should be able to lock some profit in on USDCAD & GBPUSD at close tonight
Total pips gain for Jan: plus 447
Cumulative since Nov 06: plus 1779
Will update later...
Kind Regards
Steve
USDJPY stopped out for minus 42 pips (literally hit my s/l then bounced back up lol)
EURUSD stopped out for minus 62 pips (again - today's high is 2 pips beyond my s/l)
However, on the positive side, USDCAD is currently up 109 pips, GBPUSD currently up 206 pips & USDCHF currently up 190 pips (with 177 pips locked in). Should be able to lock some profit in on USDCAD & GBPUSD at close tonight
Total pips gain for Jan: plus 447
Cumulative since Nov 06: plus 1779
Will update later...
Kind Regards
Steve
- Joined Nov 2006 | Status: Dubai | 11,493 Posts
EURUSD stopped out for minus 62 pips (again - today's high is 2 pips beyond my s/l)
Trade what you see, not what you think.
- Joined Jun 2006 | Status: Member | 2,512 Posts
That's annoying, but luckily for me my EU s/l did not get hit, as you know i set my s/l +/- 15 pips, well it actually worked this time, just wanted to let you know
- | Commercial Member | Joined Dec 2006 | 1,016 Posts
any new outlooks from you at 5:00?
Well done bro
- Joined Jun 2006 | Status: Member | 2,512 Posts
OK, current trades still open.....
USDCAD short from 1.1778 (s/l 1.1716 guarantees plus 62 pips)
GBPUSD long from 1.9442 (s/l 1.9560 guarantees plus 118 pips)
USDCHF long from 1.2261 (s/l 1.2438 guarantees plus 177 pips)
and new trades just opened.....
EURUSD long from 1.2936 (s/l 1.2906 guarantees minus 30 pips)
USDJPY long from 120.44 (s/l 119.96 guarantees minus 48 pips)
Although we had a couple of positions stopped out earlier on EU & UJ, overall it's been a great day where we have been able to lock in some pips on open positions.
Kind Regards
Steve
USDCAD short from 1.1778 (s/l 1.1716 guarantees plus 62 pips)
GBPUSD long from 1.9442 (s/l 1.9560 guarantees plus 118 pips)
USDCHF long from 1.2261 (s/l 1.2438 guarantees plus 177 pips)
and new trades just opened.....
EURUSD long from 1.2936 (s/l 1.2906 guarantees minus 30 pips)
USDJPY long from 120.44 (s/l 119.96 guarantees minus 48 pips)
Although we had a couple of positions stopped out earlier on EU & UJ, overall it's been a great day where we have been able to lock in some pips on open positions.
Kind Regards
Steve
I am following your system also. When holding your positons does the interest charge affect your monthly return to any great degree? I am trading in the demo mode and IFX doesnt show any calculation either positive or negative.I saw a thread about interst charges here on FF some place but I guess im blind as I cant seem to find it again. Thanks GB
OK, current trades still open.....
I am following your system also when holding your positons does the interest charge affect your monthly return to any great degree? I am trading in the demo mode and IFX doesnt show any calculation either positive or negative.I saw a thread about interst charges here on FF some place but I guess im blind as I cant seem to find it again. Thanks GB
USDCAD short from 1.1778 (s/l 1.1716 guarantees plus 62 pips)
GBPUSD long from 1.9442 (s/l 1.9560 guarantees plus 118 pips)
USDCHF long from 1.2261 (s/l 1.2438 guarantees plus 177 pips)
and new trades just opened.....
EURUSD long from 1.2936 (s/l 1.2906 guarantees minus 30 pips)
USDJPY long from 120.44 (s/l 119.96 guarantees minus 48 pips)
Although we had a couple of positions stopped out earlier on EU & UJ, overall it's been a great day where we have been able to lock in some pips on open positions.
Kind Regards
Steve
- Joined Jun 2006 | Status: Member | 2,512 Posts
Hey Steve,
Just wanted to say thank you for your system, I've been back testing and its working great. Thanks for the simplicity of it and its effectiveness. Dave.
Just remember I'm not giving recommendations, it's just my journal
Kind Regards
Steve
- Joined Jun 2006 | Status: Member | 2,512 Posts
I am following your system also. When holding your positons does the interest charge affect your monthly return to any great degree? I am trading in the demo mode and IFX doesnt show any calculation either positive or negative.I saw a thread about interst charges here on FF some place but I guess im blind as I cant seem to find it again. Thanks GB
Hi George
,The broker I use doesn't charge or pay interest when holding positions overnight. I would imagine over the long term it would even itself out as there is no bias to this in my method.
If anyone thinks any different I would welcome your comments.
Kind Regards
Steve
- | Joined May 2006 | Status: Member | 90 Posts
Hi George
The broker I use doesn't charge or pay interest when holding positions overnight. I would imagine over the long term it would even itself out as there is no bias to this in my method.
If anyone thinks any different I would welcome your comments.
Kind Regards
Steve
Who is your broker
Thanks
- Joined Jun 2006 | Status: Do NOT tilt | 5,708 Posts
Hi George
The broker I use doesn't charge or pay interest when holding positions overnight. I would imagine over the long term it would even itself out as there is no bias to this in my method.
If anyone thinks any different I would welcome your comments.
Kind Regards
Steve
Working towards CME membership
- | Joined Sep 2006 | Status: Forex Newbie | 1,517 Posts
Just went to marketivas site, check pricing, they have swap premiums listed...
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