Technical+Fundamental System V1

Introduction
I have been trading this system with great success for 3 weeks. But it is very raw and I need FF help from experienced traders.

I hate to make such claims without statements , but the thing is ,I had my account managed and I lost -21%. The trader was using 0.2 and 0.5 lots. I managed to make 5% in 3 weeks using 0.01 and 0.02 lots , I made over 1000 pips. So I'll show my stats later when I am +ve.

The System:
The systems is so simple and works on daily charts,so can't be affected by noise and stress. It is trading in the direction of the trend when good news is released. How?
You can have a quick read about currencies outlook and news anywhere. You can read weekly outlook at Forexcrunch to see what is going on. All you need is to know what are strong currencies and weak currencies , there is no need for deep fundamental analysis.

Now you divide the currencies into strong currencies and weak currencies. So at the moment I am writing;

Strong:
AUD
CAD
NZD

Weak:
EUR
JPY
CHF

(I don't have a clear view on GBP -can wait after election- and USD right now)

Without reading anything you can take a look at daily and weekly charts if you like. But I prefer reading. Remember that trading is like anything , requires some sort of work.

Now after we have the list of currency strength we will do only these trades for the following week. Thats only an example for this week.

Short
Eur/AUD
EUR/CAD


Long
NZD/JPY
AUD/JPY
CAD/JPY

If we want to short the AUD we short AUD/NZD or AUD/CAD , not AUD/JPY.
When to make the trade??
Now after you spot these trends ,you will look for trend retractments , then you enter after retractments , right?? No. wrong.

You will wait for good news for strong currencies or bad news for weak currencies and THEN you enter in the trend direction.

When Exactly?

You DON'T make limit orders during news release!! You wait for the news , MAKE SURE traders buy on the trend direction and then you enter with trend direction with SL around 50-60 pips or at break of trend line.
And what is TP ?? You trail stops to the next news release or set TP 100-150 pips. I always noticed it can move up to 200-300 pips sometimes.

In Conclusion:

The system is very simple, safe and effective. You buy in daily trend direction and with a REASON to buy. Because what are the probabilities to lose after: 1- Following the trend. 2-Good news 3- Price actually moved in trend direction and news direction!? Very low probability IMO.

SETUP 1 AUD/JPY H4 chart

http://i44.tinypic.com/2nrd352.jpg

AUD AIG Services Index after 2.5 hours
AUD Building Approvals m/m after 4.5 hours <--- Better wait for this one.

Enter when : 1-News is good for AUD 2-Price actually moved upward

Don't make limit orders

TP can be 100-150 pips , SL is 50-60

You can also short EUR/AUD.

http://i42.tinypic.com/nnjs5y.jpg

Interesting thread. I will follow your setups.
Looking forward for your statements.

"I'd rather believe a trader posting his losing statements than a trader with 10V with no statements."

Couldn't agree more!

Both news are +ve for AUD , price bounced is in the trend direction as I expected.

I am long AUD/JPY and Short EUR/AUD
So far both are +ve pips. I'll post when both hit TP

I'd rather believe a trader posting his losing statements than a trader with 10V with no statements.

I'm waiting for your losing statement.
AUD/JPY fell 86 pips, beginning at exactly the time of your post.

Setup 2

http://i42.tinypic.com/152epud.jpg

GBP Construction PMI +58.2
CIPS: UK Construction In April Highest Since Sep 2007

Setup 3

US Non Farm Pay roll in 2 hours.

http://i39.tinypic.com/mhcdg7.jpg


http://i42.tinypic.com/rsa2x2.jpg
Never traded NFP before , so I am not sure if I am going to take it , but lets see.

Ok wait for it. It didn't drop that much in my entry and don't judge a system by 1 trade. I'll wait for AUD news tomorrow or break of trend line. Cheers brah.

I was going to leave this alone, but you keep on.

Here is what you wrote:

Both news are +ve for AUD , price bounced is in the trend direction as I expected.

I am long AUD/JPY and Short EUR/AUD
So far both are +ve pips. I'll post when both hit TP


Since you posted that, AUD/JPY has not gone up. It has fallen as much as 98 pips and is still falling. In your first post you said your SL was 50 or 60 pips.


In a latter post you said you had not entered long after all, you were waiting on a trendline break.

No the AUD/JPY was +ve at first. And anyway it is still version 1 and I am still testing it. Look at the first post I said it is still raw. I already made nice pips with the EU/AUD and I missed the CHF/JPY downtrend so should have longed the GPY/CHF instead. Anyway I'll stop posting setups now until I post +ve statements since there is no one willing to help.

As you guys saw my system got caught bad in the MOST crazy day in FX history. I was profiting from it since April 23 if someone wanna see my stats.

https://www.myfxbook.com/portfolio/m...oud-real/25306


I'll withdraw my profits and be back in a couple of months.