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EricFX Stoch Method

  • #121
  • May 24, 2007 10:31am May 24, 2007 10:31am
Quoting TimeFreedom
SELL STOP | GBPJPY | LOTS: 1 | @ 240.93| SL: 241.72 | TP: 240.01

Calculated SL based on the range of the previous four candles before entry candle:

SL: High 241.84 - Low 241.04 = .80 * 0.68 = 54 pips. SL = 241.18 + .54 = 241.72

TP: 54 * 2 = 108 pips; 241.18 - 1.08 = 240.01

ENTRY PRICE: Entry candle close - 17 pips - 8 pip spread: 241.18 - .17 = 241.01 - 8 = 240.93
STATUS: Order Filled. Currently -10

COMMENT: I am considering changing the fixed 17 pip buffer to a percentage (25%) of Take Profit. If TP: = 108 then 108 x 0.25 = 27.This may help with pairs like GBPJPY which are more volatile.

TimeFreedom
  • #122
  • May 24, 2007 8:28pm May 24, 2007 8:28pm
Quoting TimeFreedom
BUY STOP | GBPUSD | LOTS: 1 | @ 1.9733| SL: 1.9663 | TP: 1.9810

UPDATE: Closed .50 Lots @ 1.9831 | +98. The remaining .50 Lots will be the runner.
STATUS: Closed Runner @ 1.9832 | +99
  • #123
  • May 24, 2007 8:34pm May 24, 2007 8:34pm
SELL | GBPJPY | LOTS: 1 | @ 240.93| SL: 240.92 | TP: 0

Quoting TimeFreedom
STATUS: Order Filled. Currently -10

COMMENT: I am considering changing the fixed 17 pip buffer to a percentage (25%) of Take Profit. If TP: = 108 then 108 x 0.25 = 27.This may help with pairs like GBPJPY which are more volatile.

TimeFreedom
STATUS: Closed .50 Lots @ 239.90 | +103. Moved .50 Lots (Runner) to BE+1 and set TP to 0.
  • #124
  • May 24, 2007 8:40pm May 24, 2007 8:40pm
SELL | USDJPY | LOTS: 1 | @ 121.31| SL: 121.30 | TP: 0

Quoting TimeFreedom
STATUS: Pending Order Filled. Currently -11
STATUS: Closed .50 Lots @ 121.02 | +29. Moved .50 Lots (Runner) to BE+1 and set TP to 0.
  • #125
  • May 24, 2007 8:43pm May 24, 2007 8:43pm
Quoting TimeFreedom
BUY STOP | EURUSD | LOTS: 1 | @ 1.3504| SL: 1.3450 | TP: 1.3555

 Calculated SL based on the range of the previous four candles before entry candle:

SL: High 1.3463 - Low 1.3418 = 45 * 0.68 = 31/35 pips. SL = 1.3485 - 35 = 1.3450

TP: 35 * 2 = 70 pips; 1.3485 + 70 = 1.3555

ENTRY PRICE: Entry candle close + 17 pips + 2 pip spread: 1.3485 + 17 = 1.3502 + 2 = 1.3504
STATUS: Canceled Pending Order. Order was not Triggered.
  • #126
  • May 24, 2007 8:45pm May 24, 2007 8:45pm
Hi TimeFreedom,

I was looking through this thread and it looks like your doing well. If you don't mind sharing ; how many pips are you up since you've started trading this method....Thanks in advance....
  • #127
  • May 24, 2007 8:56pm May 24, 2007 8:56pm
Quoting amaruenterprise
Hi TimeFreedom,

I was looking through this thread and it looks like your doing well. If you don't mind sharing ; how many pips are you up since you've started trading this method....Thanks in advance....
Amaruenterprise,

Right now the market is moving and all is well, but let's see how we do on choppy and ranging days. I will post a summary at the end of the day tomorrow.

TimeFreedom
  • #128
  • May 24, 2007 9:03pm May 24, 2007 9:03pm
I missed the Short GBPUSD entry because I was out with the family. Conflicted right now on whether or not I should enter or just sit this one out.

TimeFreedom
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_ericfx_05-25-07_01.png Size: 20 KB
  • #129
  • May 24, 2007 9:22pm May 24, 2007 9:22pm
SELL STOP | GBPUSD | LOTS: 1 | @ 1.9822| SL: 1.9885 | TP: 1.9768

Calculated SL based on the range of the previous four candles before entry candle:

SL: High 1.9887 - Low 1.9829 = 58 * 0.68 = 39 pips. SL = 1.9846 + 39 = 1.9885

TP: 39 * 2 = 78 pips; 1.9846 - 78 = 1.9768

ENTRY PRICE: Entry candle close - 20 pips (buffer) - 4 pip spread: 1.9846 - 20 = 1.9826 - 4 = 1.9822

BUFFER: TP: 78 * 0.25 = 19.5/20

Quoting TimeFreedom
I missed the Short GBPUSD entry because I was out with the family. Conflicted right now on whether or not I should enter or just sit this one out.

TimeFreedom
COMMENT: Okay, I have decided to follow the signal and place my Sell Stop.
  • #130
  • May 25, 2007 5:42am May 25, 2007 5:42am
Quoting TimeFreedom
SELL | USDJPY | LOTS: 1 | @ 121.31| SL: 121.30 | TP: 0

STATUS: Closed .50 Lots @ 121.02 | +29. Moved .50 Lots (Runner) to BE+1 and set TP to 0.
STATUS: Trade Closed @ SL: 121.31 | +1
  • #131
  • May 25, 2007 5:43am May 25, 2007 5:43am
Quoting TimeFreedom
SELL | GBPJPY | LOTS: 1 | @ 240.93| SL: 240.92 | TP: 0

STATUS: Closed .50 Lots @ 239.90 | +103. Moved .50 Lots (Runner) to BE+1 and set TP to 0.
STATUS: Trade Closed @ SL: 240.93 | +1
  • #132
  • May 25, 2007 5:44am May 25, 2007 5:44am
Quoting TimeFreedom
BUY STOP | USDCAD | LOTS: 1 | @ 1.0894| SL: 1.0837 | TP: 1.0942

Calculated SL based on the range of the previous four candles before entry candle:

SL: High 1.0867 - Low 1.0827 = 40 * 0.68 = 27/35 pips. SL = 1.0872 - 35 = 1.0837

TP: 35 * 2 = 70 pips; 1.0872 + 70 = 1.0942

ENTRY PRICE: Entry candle close - 17 pips - 5 pip spread: 1.0872 + 17 = 1.0889 + 5 = 1.0894
STATUS: Order Filled. Currently -9

COMMENT: I made an error and for some reason put in a Buy Stop @ 1.0867 instead of 1.0894. I may close this trade and take a small loss.
  • #133
  • May 25, 2007 5:52am May 25, 2007 5:52am
I missed the EURJPY Buy Stop setup because I was sleeping.

TimeFreedom
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy_ericfx_05-25-07_01.png Size: 20 KB
  • #134
  • May 25, 2007 7:15am May 25, 2007 7:15am
BUY | USDCAD | LOTS: 1 | @ 1.0894| SL: 1.0837 | TP: 1.0942


Quoting TimeFreedom
STATUS: Order Filled. Currently -9

COMMENT: I made an error and for some reason put in a Buy Stop @ 1.0867 instead of 1.0894. I may close this trade and take a small loss.
STATUS: Trade Closed @ SL: 1.0837 | -30

COMMENT: I may enter another Buy Stop at original price, 1.0894 and give this one another try.
  • #135
  • May 25, 2007 7:26am May 25, 2007 7:26am
BUY STOP | EURUSD | LOTS: 1 | @ 1.3453| SL: 1.3399 | TP: 1.3504

 Calculated SL based on the range of the previous four candles before entry candle:

SL: High 1.3446 - Low 1.3411 = 35 * 0.68 = 24/35 pips. SL = 1.3434 - 35 = 1.3399

TP: 35 * 2 = 70 pips; 1.3434 + 70 = 1.3504

ENTRY PRICE: Entry candle close + buffer + spread: 1.3434 + 17 = 1.3451 + 2 = 1.3453
  • #136
  • May 25, 2007 7:27am May 25, 2007 7:27am
Quoting TimeFreedom
BUY STOP | EURUSD | LOTS: 1 | @ 1.3453| SL: 1.3399 | TP: 1.3504

 Calculated SL based on the range of the previous four candles before entry candle:

SL: High 1.3446 - Low 1.3411 = 35 * 0.68 = 24/35 pips. SL = 1.3434 - 35 = 1.3399

TP: 35 * 2 = 70 pips; 1.3434 + 70 = 1.3504

ENTRY PRICE: Entry candle close + buffer + spread: 1.3434 + 17 = 1.3451 + 2 = 1.3453
STATUS: Order Filled. Currently -3
  • #137
  • May 26, 2007 7:40am May 26, 2007 7:40am
EricFX Stoch Trading Summary

Starting Date: 05-15-07

Trade #1: 05/15 GBPJPY SHORT: -52
Trade #2: 05/15 USDJPY SHORT: -35
Trade #3: 05/16 GBPUSD SHORT: +97 +36 = +133
Trade #4 05/16 EURUSD SHORT: +39 +83 = +122
Trade #5 05/16 EURJPY SHORT: -36
Trade #6 05/16 GBPJPY SHORT: -46
Trade #7 05/16 USDCAD LONG: -35

Note: Did Not Use Pending Orders with Above Trades

Trade #8 05/18 EURJPY SHORT: +72 +1 = +73
Trade #9 05/22 EURJPY SHORT: -46
Trade #10 05/22 GBPUSD LONG: +98 +99 = +197
Trade #11 05/24 USDJPY SHORT: +29 +1 = +30
Trade #12 05/24 USDCAD SHORT: -31
Trade #13 05/24 GBPJPY SHORT: +103 +1 = +104
Trade #14 05/25 USDCAD LONG: -30

Total: +348 pips

COMMENT: Using Pending Orders Helps to Filter Out Most of the Bad Trades
  • #138
  • May 26, 2007 12:47pm May 26, 2007 12:47pm
Conrats TimeFreedom this is fantastic.... will be following your thread closely.....Happy trading to all....
  • #139
  • Edited 9:08pm May 26, 2007 9:07pm | Edited 9:08pm
Quoting TimeFreedom
EricFX Stoch Trading Summary

Starting Date: 05-15-07

Trade #1: 05/15 GBPJPY SHORT: -52
Trade #2: 05/15 USDJPY SHORT: -35
Trade #3: 05/16 GBPUSD SHORT: +97 +36 = +133
Trade #4 05/16 EURUSD SHORT: +39 +83 = +122
Trade #5 05/16 EURJPY SHORT: -36
Trade #6 05/16 GBPJPY SHORT: -46
Trade #7 05/16 USDCAD LONG: -35

Note: Did Not Use Pending Orders with Above Trades

Trade #8 05/18 EURJPY SHORT: +72 +1 = +73
Trade #9 05/22 EURJPY SHORT: -46
Trade #10 05/22 GBPUSD LONG: +98 +99 = +197
Trade #11 05/24 USDJPY SHORT: +29 +1 = +30
Trade #12 05/24 USDCAD SHORT: -31
Trade #13 05/24 GBPJPY SHORT: +103 +1 = +104
Trade #14 05/25 USDCAD LONG: -30

Total: +348 pips

COMMENT: Using Pending Orders Helps to Filter Out Most of the Bad Trades
I too offer kudos to you, Time Freedom. Well done, and thanks again for taking the time to journal and post these trades for us.

I also want to point out something interesting. I count six winners and eight losers. That's a great lesson for us; it's not the won/lost ratio, it's the risk/ reward, and the ability to ride the winners. Really good stuff!

Richard
  • #140
  • Jun 7, 2007 1:20am Jun 7, 2007 1:20am
is this thread dead ??
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