ACD Method on GBP/JPY One trade a day | Page 2 | Forex Factory

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ACD Method on GBP/JPY One trade a day

  • #21
  • Dec 17, 2007 4:31pm Dec 17, 2007 4:31pm
Hi cesare,

Welcome to the thread.

The ACD method is very interesting.

depending on the way you use it you can use it for break out systems,
range trading, scalping and stop hunting.

The way I'm trading it at the moment is for breakouts but I
feel the next few weeks might be quite rangey.
The more I wait the more I make
  • #22
  • Dec 17, 2007 4:39pm Dec 17, 2007 4:39pm
So I got stopped out today at around 11.30
for a loss of -62 pips.

As I was saying earlier today was really a range day.

I might start playing it a bit different on range days.
Using the ACD method one way today could have been played
would be to use both the A up and A down levels as my range.

Short at the A up line and go long at the A down with about a 50 pip stop loss and a take profit of about 50 pips. 1:1 ratio.

If tomorrow is like that I might try that instead.
The more I wait the more I make
  • #23
  • Dec 18, 2007 4:26am Dec 18, 2007 4:26am
Thank you for the very informative reading, I plotted the Range Time-frame on my Geppy Charts and it sure looks impressive, maybe I'll be able to get more than my original 50+ for the day on the Geppy.

One more thing, I suppose you have the actual book, just want to confirm on the 32 pips on the geppy for the Range, tx

BTW, I was short before I started reading this and just the TF for a signal to be valid, in this case, 15 mins kept me from losing on it.

M&M
  • #24
  • Dec 18, 2007 7:39pm Dec 18, 2007 7:39pm
Donagh_1,

Thank you very much for an interesting method. I did go thru the sample chapter till page 15 but as it didn't have the chart images I got a little confused and stopped at there. [But will read later tonight]

The opening range of g/j is between 2:00 to 2:30 AM (GMT)

I assume 2:00 to 2:30 AM (GMT) is 9:00 to 9:30PM EST.
Why did you chose this time frame? Please direct me to your posting if you have already explained earlier.


Thanks again
Regards
DL
  • #25
  • Dec 18, 2007 7:55pm Dec 18, 2007 7:55pm
Hi FX1618, M&M

Im not sure of your name sorry.

I am more than delighted to share this method which has been shared
thousands of times over.

Ok. My system is just one way of doing it but the ACD method has a vast
wealth of systems which can be adapted to suit the individual trader and particular mood of a market.

I am chuffed that you have actually read this thread through to ask me the most important question which no one has asked me yet.
Which is a great question.

I do have the actual book. The book does not have the actual A up and A down of gbp/jpy. It has a lot of others but not this one.

The way I derived this number of 32 Is from the usd/jpy which in the book is valued at 8 and gbp/usd which is valued at 28. Then from these two numbers I did lots of trial and error and came up with the number of 32.

Litsen its no strict science and to be honest I could be wrong but from my experience Its a good enough number for me. If you have a bigger number you get very few signals and if its smaller you get too many signals so as I say trial and error.

I saw another calculation on this forum by JodyOng of the generic A values
on this thread, check it out...
http://www.forexfactory.com/showthread.php?t=6385
The more I wait the more I make
  • #26
  • Dec 18, 2007 8:07pm Dec 18, 2007 8:07pm
No trade today, well I mean yesterday,
I was out for a few drinks ...Again
So I'm back in a bit late, well I am Irish.

Well anyway I got no signal at all this morning I mean yesterday morning
so I did nothing, lost nothing, gained nothing.

I know I could have range traded it nicely the last 2 days from the A values
but I dont want to change anything just yet.

I'll post example charts of range trading this method tomorrow when Its not so late.

Hasta manana Chicos!!
The more I wait the more I make
  • #27
  • Dec 18, 2007 8:31pm Dec 18, 2007 8:31pm
Quoting deepleo
Donagh_1,

Thank you very much for an interesting method. I did go thru the sample chapter till page 15 but as it didn't have the chart images I got a little confused and stopped at there. [But will read later tonight]

The opening range of g/j is between 2:00 to 2:30 AM (GMT)

I assume 2:00 to 2:30 AM (GMT) is 9:00 to 9:30PM EST.
Why did you chose this time frame? Please direct me to your posting if you have already explained earlier.


Thanks again
Regards
DL
Hi Leo,

Its good reading isn't it.

The reason I use this opening range of
2:00 to 2:30 is because It is what Mark fisher says in the book
for the opening range of USD/JPY. He doesn't specify anything for gbp/jpy
but thats because it is still not regarded as a major cross but I think with all
the popularity of trading this cross within retail trading it will soon become one.

He has a glossary of opening time frame ranges and A and C values
for lots of indexes, commodities, currencies and major stocks.

Most of them are just that
, the opening 5, 10, 20, 30 minutes or whatever of trading for that instrument.

Currencies are around the time of the particular domestic stock market open.
He may have a formula but I think Its trial and error.
The more I wait the more I make
  • #28
  • Dec 18, 2007 9:09pm Dec 18, 2007 9:09pm
Hi Donagh_1,

Please bear with me...

In the sample chapter Mark Fisher says:

"But if you were trading, say, Japanese yen, then the opening of the U.S. currency markets wouldn’t apply. Rather, you’d have to look to the opening of the Japanese markets."

Here where I'm getting confused with the opening range for the GBPJPY...
Should we consider Tokyo open [7:00PM EST] or London open [3:00AM EST]??

Please clarify.
Thx
DL
  • #29
  • Dec 19, 2007 3:43am Dec 19, 2007 3:43am
Went short at about 9:50

price 227.68
stop 228.50

Had to drop the wife at the bus stop so only posting it now.

Its up around 100 pips already thanks to the boe 91 MPC vote!!
The more I wait the more I make
  • #30
  • Dec 19, 2007 4:19am Dec 19, 2007 4:19am
Quoting deepleo
Hi Donagh_1,

Please bear with me...

In the sample chapter Mark Fisher says:

"But if you were trading, say, Japanese yen, then the opening of the U.S. currency markets wouldn’t apply. Rather, you’d have to look to the opening of the Japanese markets."

Here where I'm getting confused with the opening range for the GBPJPY...
Should we consider Tokyo open [7:00PM EST] or London open [3:00AM EST]??

Please clarify.
Thx
DL
Leo,

Youre right.
He does say that.
And It confused the hell out of me for ages. And still does.
But he has a table at the back of the book and it says this exactly...


Symbol Month Opening range(Minutes) Trading Hours A Value C Value
Jap yen/US, cash, 30, 9m-3pm 8, 15
Bpound/US cash, 30, 2:30am-3pm 28, 56

Now don't ask me why its 2 hours later in the table, I don't know why.
But I did try it for a couple of weeks at 7:00PM EST but found that it didn't work as good. I dont know why either.
Try it out yourself, it may work better for you.
Donagh
The more I wait the more I make
  • #31
  • Edited 12:56pm Dec 19, 2007 9:04am | Edited 12:56pm
Donagh,

Yes, I'm confused!

'Jap yen/US, cash, 30, 9m-3pm 8, 15'
I hope it's a typo..did u mean 9:00pm - 9:30pm?

I hope you don't mind me asking questions [Just trying to learn]
BTW congrats on last night's trade.

Please clarify
Thx
DL
  • #32
  • Dec 20, 2007 1:28am Dec 20, 2007 1:28am
Thanks Leo,

Yep thats what it says 9:00 pm to 3:00 pm (Trading hours)
Opening range time frame- 30 minutes
Just checked it again.

I guess when the book was written in 2001
there was less internet retail traders and It only really moved within these
hours.


Or maybe its a typo, but so far it works for me.
The more I wait the more I make
  • #33
  • Edited 11:19am Dec 20, 2007 1:45am | Edited 11:19am
Closed yesterdays trade a about 22:07 gmt.

shorted from 227.68 closed at 226.34

banked 144 pips
The more I wait the more I make
  • #34
  • Dec 20, 2007 2:01am Dec 20, 2007 2:01am
Monday -62
Tuesday 0
Wednesday +144

Went short this morning at 7:10 at a 225.43
Stop 226.29

I turned on the PC and the price just kept falling way below the A down line so I just jumped in fearing that that It would not come back ever again.

And of course what happens when you do that it comes right back at you
and I'm already 40 pips off side.

And I said if this happens I'll wait for it to retrace before I enter...dohh!!

Oh well Heres hoping it falls again as my stop is a long way from my entry.

To make things worse I'm also short gbp/usd from 1.9922 and thats also
about 30pips off side
The more I wait the more I make
  • #35
  • Dec 20, 2007 3:11am Dec 20, 2007 3:11am
Hi Donagh_1

tx for the link in your post to me, I'll check it out.

I'm also short on the Geppy @ 225.67, and banked 100 yesterday.

once again, tx for sharing, this really helps in filtering the trades and keep you outta ranging markets, well this far.

o'ye, my handle is fx1618, but i prefer to be called on the M&M, my initials, When I originally registered I thought that was cool and apparently your nick only gets changed in rare circumstances.

M&M
  • #36
  • Dec 20, 2007 3:20am Dec 20, 2007 3:20am
Donagh,

Went SHORT at 225.56, my first trade with this method.
I'm trying with Tokyo open range [7:00PM - 8:00PM EST].

So for today's range: HIGH:226.37
LOW:226.04

GREEN[LONG] LINE:226.69
RED[SHORT] LINE:225.72

RED[SHORT] line breaking candle CLOSE:225.54


Let's see how it goes..
Thx
DL
  • #37
  • Edited 7:28am Dec 20, 2007 3:32am | Edited 7:28am
Quoting deepleo
Donagh,

Went SHORT at 225.56, my first trade with this method.
I'm trying with Tokyo open range [7:00PM - 8:00PM EST].

So for today's range: HIGH:226.37
LOW:226.04

GREEN[LONG] LINE:226.69
RED[SHORT] LINE:225.72

RED[SHORT] line breaking candle CLOSE:225.54


Let's see how it goes..
Thx
DL
Break Even at +50 pips [225.00].
Closed at 224.76 for +80 as it hitting 61.8 fib on 30M and also GBPUSD reached the fib line in 30M/1H/4H TF.
  • #38
  • Dec 20, 2007 7:50am Dec 20, 2007 7:50am
Quoting Fx1618
Hi Donagh_1

tx for the link in your post to me, I'll check it out.

I'm also short on the Geppy @ 225.67, and banked 100 yesterday.

once again, tx for sharing, this really helps in filtering the trades and keep you outta ranging markets, well this far.

o'ye, my handle is fx1618, but i prefer to be called on the M&M, my initials, When I originally registered I thought that was cool and apparently your nick only gets changed in rare circumstances.

M&M
Hi M&M,

Well done on the 100 pips
Hope today turns out good also.
You got in short at 225.67
thats 24 pips better than me well done.

Now its just a waiting game.
I think we have a good chance of making a lot of pips today.
That employment claims number for the us which was a bit poor should hopefully help the bears
on u/j. which is what we need to help push g/j down further.
The more I wait the more I make
  • #39
  • Dec 20, 2007 8:13am Dec 20, 2007 8:13am
Quoting deepleo
Break Even at +50 pips [225.00].
Closed at 224.76 for +80 as it hitting 61.8 fib on 30M and also GBPUSD reached the fib line in 30M/1H/4H TF.
Hi Leo
Well done on the +80 pips!
Nice pippin!

I have to keep my position open untill 22:00 gmt tonight because I have to be consistant with my system.

Its interesting to see you use the 7:00pm to 8:00 pm as your opening range. It will be interesting to follow you.

You do know though that the opening range is 30 minutes and not one hour. It may make a difference on some days as It could give you a very wide range. But It worked fine today.

Just another thing.
I don't understand you when you talk about fib levels in different time frames. Aren't fib levels the same price level in any TF.
The more I wait the more I make
  • #40
  • Dec 20, 2007 8:19am Dec 20, 2007 8:19am
done for the day at 60+, but It might still drop... well it actually is as I'm writing this

Don't we just hate it...... it drop 20 and is still going just as I entered my TP at 225.07.... actually 30 by now...
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