FXTradepro "LUCKY 7" Journal

I will be keeping a Journal of my Trade Results using the FXTradepro "Lucky 7" Set-Up, which is based upon the Method I detailed in a previous Thread here at Forex Factory.

FXTradepro: Strategy using a “Semi-Martingale” Position Sizing

DATE: Sunday, April 20, 2008

Time of Signal: Monday, April 21, 2008 - 12:35 AM EST

Currency Pair: USDJPY

Initial Entry: SELL @ 103.76

EA Entry Option: Price Entry

TP & SL Settings: TP=50 SL=10

Lot Sequence using Standard Lots: 7 Entries
0.5 - 0.6 - 2.25 - 2.7 - 3.24 - 3.89 - 4.67



Trade RESULTS:

Initial Entry opened on Monday, April 21, 2008 @ 12:35 AM EST

Sequence Of Trades Closed at 5th Entry on Monday, April 21, 2008 @ 6:51 AM EST

3.24 Standard Lots for Final Entry

Net Profit: $985.73

DATE: Monday, April 21, 2008

Time of Signal: Monday, April 21, 2008 - 11:00AM EST

Currency Pair: EURUSD

Initial Entry: SELL @ 1.5919

EA Entry Option: Price Entry

TP & SL Settings: TP=50 SL=10

Lot Sequence using Standard Lots: 7 Entries
0.5 - 0.6 - 2.25 - 2.7 - 3.24 - 3.89 - 4.67



Trade RESULTS:

Initial Entry opened on Monday, April 21, 2008 @ 11:00 AM EST

Sequence Of Trades Closed EARLY at 1st Entry on Monday, April 21, 2008 @ 2:01AM EST

.5 Standard Lots for Final Entry

Net Profit: $150.00

DATE: Tuesday, April 22, 2008

Time of Signal: Tuesday, April 22, 2008 - 12:07 AM EST

Currency Pair: EURUSD

Initial Entry: SELL @ 1.5907

EA Entry Option: Price Entry

TP & SL Settings: TP=50 SL=10

Lot Sequence using Standard Lots: 7 Entries
0.5 - 0.6 - 2.25 - 2.7 - 3.24 - 3.89 - 4.67



Trade RESULTS:

Initial Entry opened on Tuesday, April 22, 2008 @ 12:07 AM EST

Sequence Of Trades Closed at 3rd Entry on Tuesday, April 22, 2008 @ 1:53 AM EST

2.25 Standard Lots for Final Entry

Net Profit: $1015.00

Sometimes I use the "Lucky 7" Progression for what
I call a "Progression Scalp". On these Sequences I look
to get in and out with some profit. Generally, I trade this
idea during the NY Session assuming any previous
Sequence from the night before has closed.


DATE: Tuesday, April 22, 2008

Time of Signal: Tuesday, April 22, 2008 - 11:05 AM EST

Currency Pair: GBPUSD

Initial Entry: BUY @ 1.9956

EA Entry Option: Immediate Entry

TP & SL Settings: TP=50 SL=10

Lot Sequence using Standard Lots: 7 Entries
0.5 - 0.6 - 2.25 - 2.7 - 3.24 - 3.89 - 4.67



Trade RESULTS:

Initial Entry opened on Tuesday, April 22, 2008 @ 11:05 AM EST

Sequence Of Trades Closed EARLY for 20 Pips at 3rd Entry on Tuesday, April 22, 2008 @ 12:06 PM EST

2.25 Standard Lots for Final Entry

Net Profit: $340.00

DATE: Wednesday, April 23, 2008

Time of Signal: Wednesday, April 23, 2008 - 12:38 AM EST

Currency Pair: EURUSD

Initial Entry: SELL @ 1.5995

EA Entry Option: Price Entry

TP & SL Settings: TP=50 SL=10

Lot Sequence using Standard Lots: 7 Entries
0.5 - 0.6 - 2.25 - 2.7 - 3.24 - 3.89 - 4.67



Trade RESULTS:

Initial Entry opened on Wednesday, April 23, 2008 @ 12:38 AM EST

Sequence Of Trades Closed at 1st Entry on Wednesday, April 23, 2008 @ 3:08 AM EST

.50 Standard Lots for Final Entry

Net Profit: $250.00

Here is another "Lucky 7" Progression Scalp
that I took during the NY Session Today:


DATE: Wednesday, April 23, 2008

Time of Signal: Wednesday, April 23, 2008 - 11:09 AM EST

Currency Pair: EURUSD

Initial Entry: BUY @ 1.5875

EA Entry Option: Immediate Entry

TP & SL Settings: TP=50 SL=10

Lot Sequence using Standard Lots: 7 Entries
0.5 - 0.6 - 2.25 - 2.7 - 3.24 - 3.89 - 4.67



Trade RESULTS:

Initial Entry opened on Wednesday, April 23, 2008 @ 11:09AM EST

Sequence Of Trades Closed EARLY for 30 Pips at 1st Entry on Wednesday, April 23, 2008 @ 12:48 PM EST

.50 Standard Lots for Final Entry

Net Profit: $150.00

Hello Traders.......

Please feel free to Post your questions and comments in this Thread. I look forward to hearing from anyone who has an interest in "Progression Sequence Trading".

Kind regards,

Dan

"I like it."

Thanks tdion........

I am very interested in this strategy on the GBPJPY or GBPUSD, after several progressions have passed (I would enter only after the price ranges across the channel 6 or 7 times) then come in looking for a 5% gain....

Thoughts?

That could (and should) work well ! I do something similar in that I define an area of consolidation and look for a 10 pip channel and then enter after price has "bounced" back and forth several times. There are other some considerations but you are on the right track.

Dan

Yea,i just found this and wil follow

ingenious. You've developed a safe way to use martingale. The risk /reward per sequence is acceptable. The system allows for some discretion allowing for some skill to increase its effectiveness. it is not without risk, and can lose like anything else, but well done for your persistance that has resulted in such a highly developed safe technique. I am impressed and a little jealous as i could find no way to trade martingale and gave up on it. Well done! Thankyou for sharing

Hi fxtrade pro,

This is my first post and i thought here seemed like a good place for it! I am following your thread with great interest and plan to start demoing the strategy next week.

Would it be possible to have the E.A. that helps open further lots after the initial entry?

Anyway good luck with this and thankyou very much for sharing the system,

Regards

Alex

DATE: Thursday, April 24, 2008

Time of Signal: Wednesday, April 23, 2008 - 11:04 PM EST

Currency Pair: GBPUSD

Initial Entry: SELL @ 1.9797

EA Entry Option: Price Entry

TP & SL Settings: TP=50 SL=10

Lot Sequence using Standard Lots: 7 Entries
0.5 - 0.6 - 2.25 - 2.7 - 3.24 - 3.89 - 4.67



Trade RESULTS:

Initial Entry opened on Wednesday, April 23, 2008 @ 11:04 PM EST

Sequence Of Trades Closed at 5th Entry on Thursday, April 24, 2008 @ 4:10 AM EST

3.24 Standard Lots for Final Entry

Net Profit: $1015.00


Last nights Sequence was a "wild ride" on GBPUSD !
Interestingly, the Trade missed the TP on the 1st Entry
by just 2 Pips at 2:45 AM EST, but as can been seen on
the Chart below, the trade worked out well anyway less
than 2 hours later.

Thanks zu si fu, M.A.C. & Alex for your comments.......

I have been following your thread/s for a while, sorry to see what happened in the official thread but it's good to see you back here.

Keep up the good work, I enjoy the aspect of this system still employing trade decisions.

Thanks Vensik.....I am glad to see you here also.

Dan

A "Lucky 7" Progression Scalp that I took during
the NY Session Today:


DATE: Thursday, April 24, 2008

Time of Signal: Thursday, April 24, 2008 - 10:48 AM EST

Currency Pair: EURUSD

Initial Entry: BUY @ 1.5702

EA Entry Option: Price Entry

TP & SL Settings: TP=50 SL=10

Lot Sequence using Standard Lots: 7 Entries
0.5 - 0.6 - 2.25 - 2.7 - 3.24 - 3.89 - 4.67



Trade RESULTS:

Initial Entry opened on Thursday, April 24, 2008 @ 10:48 AM EST

Sequence Of Trades Closed EARLY for 40 Pips at 2nd Entry on
Thursday, April 24, 2008 @ 12:10 PM EST

.60 Standard Lots for Final Entry

Net Profit: $190.00