Updated results at post #61.
cheers
mike
Hans
- | Joined Nov 2006 | Status: very junior member | 1,576 Posts
this also coincides with fxdd candle open 
This is the best idea, you have high and low of the day place your orders at 5pm est that is 10pm uk time and 9pm GMT regardless of what time your broker's daily candle closes
5 pm est is the close of NY session and is regarded as close of fx trading day
Originally Posted by mikelath http://www.forexfactory.com/images/buttons/viewpost.gif
It's seems that I am unable to edit the above post, so results may need to be given on separate posts as we go along.
The first day's results are posted here. It was a very mediocre day due to low volatility in the market, highly attributed to the Bank Holiday in the UK.
Date: Monday 27 August 2007
GBPUSD GBPJPY USDJPY EURJPY EURGBP EURUSD
+15pips +15pips -45pips +15pips no touch no touch
Happy pipping !
Ok. I'll try to get more organised with the results. As i can edit this post (unlike post#2), I hope to add all future results here. I'll also add daily comments, serving the purpose of a trading journal.
Date: Tuesday 28 August 2007
GBPUSD + 95
GBPJPY +95
USDJPY +95
EURJPY +15
EURGBP +23
EURUSD -90
Total: +233pips
Comment: A good day overall. EURJPY came within 2pips of the 50 profit target. EURGBP 15pips PT was reached and the other 2 lots were closed out manually before new orders were placed for the next day.
Date: Wednesday 29 August 2007
GBPUSD -180
GBPJPY -30
USDJPY +105
EURJPY +190
EURGBP +15
EURUSD +95
Total: +195pips
Comment: A very interesting day. GBPUSD and GBPJPY were triggered and stopped out soon after placing the orders. Both the long and short orders were triggered on numerous pairs...some for the better, some not so. Closed out 2 lots on EURGBP at breakeven to make way for new orders. Overall, another good result.
Date: Thursday 30 August
GBPUSD -90
GBPJPY no touch
USDJPY no touch
EURJPY no touch
EURGBP no touch
EURUSD no touch
Total: -90pips
Comment: As we can see it was a pretty uneventful day. The long trade on GBPUSD was the only one that triggered. All others traded within the range of the previous days high and low. It happens. We can't expect a breakout every single day. Patience and sticking with the system is the key.
Date: Friday 31 August
GBPUSD +15
GBPJPY +95
USDJPY +15
EURJPY +95
EURGBP +12
EURUSD +15
Total: +247pips
Comment: USDJPY long trade came within 3pips of 50TP before retracing. EURJPY long came within 3pips of stop before proceeding to 100pips above entry, achieving all 3 profit targets. Again manually closed out EURGBP short for a nominal +4pips on each order.
This is the first day so far that all pairs were profitable.
Total for this week and month of August: +585pips
Happy pipping everybody !
It's seems that I am unable to edit the above post, so results may need to be given on separate posts as we go along.
The first day's results are posted here. It was a very mediocre day due to low volatility in the market, highly attributed to the Bank Holiday in the UK.
Date: Monday 27 August 2007
GBPUSD GBPJPY USDJPY EURJPY EURGBP EURUSD
+15pips +15pips -45pips +15pips no touch no touch
Happy pipping !
Ok. I'll try to get more organised with the results. As i can edit this post (unlike post#2), I hope to add all future results here. I'll also add daily comments, serving the purpose of a trading journal.
Date: Tuesday 28 August 2007
GBPUSD + 95
GBPJPY +95
USDJPY +95
EURJPY +15
EURGBP +23
EURUSD -90
Total: +233pips
Comment: A good day overall. EURJPY came within 2pips of the 50 profit target. EURGBP 15pips PT was reached and the other 2 lots were closed out manually before new orders were placed for the next day.
Date: Wednesday 29 August 2007
GBPUSD -180
GBPJPY -30
USDJPY +105
EURJPY +190
EURGBP +15
EURUSD +95
Total: +195pips
Comment: A very interesting day. GBPUSD and GBPJPY were triggered and stopped out soon after placing the orders. Both the long and short orders were triggered on numerous pairs...some for the better, some not so. Closed out 2 lots on EURGBP at breakeven to make way for new orders. Overall, another good result.
Date: Thursday 30 August
GBPUSD -90
GBPJPY no touch
USDJPY no touch
EURJPY no touch
EURGBP no touch
EURUSD no touch
Total: -90pips
Comment: As we can see it was a pretty uneventful day. The long trade on GBPUSD was the only one that triggered. All others traded within the range of the previous days high and low. It happens. We can't expect a breakout every single day. Patience and sticking with the system is the key.
Date: Friday 31 August
GBPUSD +15
GBPJPY +95
USDJPY +15
EURJPY +95
EURGBP +12
EURUSD +15
Total: +247pips
Comment: USDJPY long trade came within 3pips of 50TP before retracing. EURJPY long came within 3pips of stop before proceeding to 100pips above entry, achieving all 3 profit targets. Again manually closed out EURGBP short for a nominal +4pips on each order.
This is the first day so far that all pairs were profitable.
Total for this week and month of August: +585pips
Happy pipping everybody !
Hi pipsters.
For the sake of evaluation, the following are the results for each individual currency pair for the week and month of August (this thread was started only at the beginning of this week) :
GBPUSD -145
GBPJPY +175
USDJPY +170
EURJPY +315
EURGBP +50
EURUSD +20
Total: +585pips
Comment: So far we can see that EURJPY is the best performer, though one week is too short a timeframe to conclude that, based on forward testing, this pair will be the best choice if we aspire to trade only one pair.
I am starting to consider that for the sake of diversification and spreading the risk, trading all or most of the above pairs will be the better option.
Let us allow the results to guide that decision.
For the sake of evaluation, the following are the results for each individual currency pair for the week and month of August (this thread was started only at the beginning of this week) :
GBPUSD -145
GBPJPY +175
USDJPY +170
EURJPY +315
EURGBP +50
EURUSD +20
Total: +585pips
Comment: So far we can see that EURJPY is the best performer, though one week is too short a timeframe to conclude that, based on forward testing, this pair will be the best choice if we aspire to trade only one pair.
I am starting to consider that for the sake of diversification and spreading the risk, trading all or most of the above pairs will be the better option.
Let us allow the results to guide that decision.
- | Membership Revoked | Joined Dec 2005 | 2,298 Posts
try Oanda.......unlimited demo account
Same Whore .... Different Dress
Originally Posted by mikelath http://www.forexfactory.com/images/buttons/viewpost.gif
...
Date: Friday 31 August
GBPUSD +15
GBPJPY +95
USDJPY +15
EURJPY +95
EURGBP +12
EURUSD +15
Total: +247pips
...
I got stopped. I put my 3 buy orders at 159.01 (high+5pips) and they got stopped at 158.71. The price went further down until 158.51
How did you made 95 pips?
I got the high (158.96) and low (156.77) prices using Netdania charts, as the candle there opens exactly at 17 Eastern time (22 London time).
I took the high and low prices for the 30th of August.
Have I done something wrong???