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ACD Method on GBP/JPY One trade a day

  • #61
  • Edited 3:12pm Dec 21, 2007 8:06am | Edited 3:12pm
Missed the long entry at 225.25 but got in at 225.39.
Moved SL to BE at +50 [225.89]

Still open with +100 at 4:00PM EST [My broker frozen before I could close the trade]

Happy weekend all !
  • #62
  • Dec 21, 2007 3:35pm Dec 21, 2007 3:35pm
Donagh,

I ordered the book and I'm getting it next week.
Thanks again for a non-cluttered method, I was looking for a 'Once a day' method and I hope the book might help me understand it more clearly.

Have a great weekend.

Thx
DL
  • #63
  • Dec 22, 2007 2:14pm Dec 22, 2007 2:14pm
Quoting deepleo
Donagh,

I ordered the book and I'm getting it next week.
Thanks again for a non-cluttered method, I was looking for a 'Once a day' method and I hope the book might help me understand it more clearly.

Have a great weekend.

Thx
DL

Thats fantastic Leo that you made 100+ pips on friday.
Good on you for having the conviction to trade the system and
enter the trade and leave it run. Especially when its moving so slowly.
I hate trading when it moves so slowly.

I'm sure the book will be a great help to you as it has been for me.

Congratulations again on the 100+ pips on friday.
The more I wait the more I make
  • #64
  • Dec 22, 2007 10:21pm Dec 22, 2007 10:21pm
Thanks Donagh for the thread.

Its given me a lot of new ideas on the direction I've been headed in trading and reinforced some ideas I've had. That's a huge help.

I've followed this thread for months which is similiar to deepleo's thinking except they use the tokyo open for gbp/jpy as the pivot and they tried a zillion breakout strategies and just kept making money using the Tokyo open:

http://www.forex-tsd.com/suggestions...nly-pivot.html
  • #65
  • Edited 9:35am Dec 23, 2007 8:11am | Edited 9:35am
Quoting donagh_1

Thats fantastic Leo that you made 100+ pips on friday.
Good on you for having the conviction to trade the system and
enter the trade and leave it run. Especially when its moving so slowly.
I hate trading when it moves so slowly.

I'm sure the book will be a great help to you as it has been for me.

Congratulations again on the 100+ pips on friday.
Hi, I have read though your entire journal. Great read and well thought out plan.

I have a few questions.

1. Do you also do the rubberband trade?

2. When in a trade, Fisher states that time is more important than price. How long do you allow for the maximum time without movement, to avoid becoming a Bus Trader?

3. I noticed you are looking at the market on a 15 min time frame. Is this just a convenient time frame for you, or what was your criteria for choosing it?
  • #66
  • Dec 23, 2007 11:22am Dec 23, 2007 11:22am
Quoting Poocher
Thanks Donagh for the thread.

Its given me a lot of new ideas on the direction I've been headed in trading and reinforced some ideas I've had. That's a huge help.

I've followed this thread for months which is similar to deepleo's thinking except they use the tokyo open for gbp/jpy as the pivot and they tried a zillion breakout strategies and just kept making money using the Tokyo open:

http://www.forex-tsd.com/suggestions...nly-pivot.html

Poocher,

I just had a glance over the above method and it seems to be using another indicators for confirmation. I did have indicators on my chart for further confirmation like RSI etc. before getting into this method and now I got rid of them all. Now I have Fibo retracement, Pivots, Gann HiLo, 5SMA (Thanks to Auslanco), 100SMA, and 200SMA.

Thanks
DL
  • #67
  • Edited Dec 24, 2007 4:10am Dec 23, 2007 11:26am | Edited Dec 24, 2007 4:10am
Quoting donagh_1

Thats fantastic Leo that you made 100+ pips on friday.
Good on you for having the conviction to trade the system and
enter the trade and leave it run. Especially when its moving so slowly.
I hate trading when it moves so slowly.

I'm sure the book will be a great help to you as it has been for me.

Congratulations again on the 100+ pips on friday.
Donagh,

Thanks, I'm planning to close my positions at 5:00PM EST from this week, if my TP/SL has not reached by then.

Regards
DL
  • #68
  • Edited 6:43pm Dec 23, 2007 6:04pm | Edited 6:43pm
Closed Long entry from friday at 226.34 [+95] because 30M 200SMA and 1H 100SMA resistance at 226.55.
  • #69
  • Dec 24, 2007 2:56am Dec 24, 2007 2:56am
Quoting Poocher
Thanks Donagh for the thread.

Its given me a lot of new ideas on the direction I've been headed in trading and reinforced some ideas I've had. That's a huge help.

I've followed this thread for months which is similiar to deepleo's thinking except they use the tokyo open for gbp/jpy as the pivot and they tried a zillion breakout strategies and just kept making money using the Tokyo open:

http://www.forex-tsd.com/suggestions...nly-pivot.html
Hi Poocher,

I'm happy to help.
It helps me also writing it all down in a thread.
Thats another interesting strategy, must be a good thing if people are making money from a similar method.

Donagh
The more I wait the more I make
  • #70
  • Dec 24, 2007 3:31am Dec 24, 2007 3:31am
Quoting smjones
Hi, I have read though your entire journal. Great read and well thought out plan.

I have a few questions.

1. Do you also do the rubberband trade?

2. When in a trade, Fisher states that time is more important than price. How long do you allow for the maximum time without movement, to avoid becoming a Bus Trader?

3. I noticed you are looking at the market on a 15 min time frame. Is this just a convenient time frame for you, or what was your criteria for choosing it?
Hi smjones,

Thanks very much for your comments on this journal.

Love your avatar.

1. Do you also do the rubberband trade?

I do use the rubber band trade but I haven't used it so far since I started this journal. I just missed a few but haven't caught one beacuse you have to get in on them straight away. There was a beautiful one on friday. You may have noticed, DeepLeo posted a good chart of it which went on to move 200 pips.

I prefer the A up or A down trade at the moment because they are more reliable and easier to judge. The rubber band trade is fantastic but you need to be trading very confidently. And you need to make sure your stop is put in straight away as it can be very dangerous if you don't.
I think if you fancy using these trades you should practice them with mini lots till you get the feel for them.

2. When in a trade, Fisher states that time is more important than price. How long do you allow for the maximum time without movement, to avoid becoming a Bus Trader?

I do not go by this rule personally. from trial and error I have closed too many trades to avoid becoming a bus trader only to watch the trade eventually take off in the right direction.

3. I noticed you are looking at the market on a 15 min time frame. Is this just a convenient time frame for you, or what was your criteria for choosing it?

I like the 15 minute time frame because it is easier to gauge when you have a proper A up or A down as It has to stay at lease half the time of the opening range period which is 15 minutes, half of 30 minutes.

Happy trading
The more I wait the more I make
  • #71
  • Dec 24, 2007 3:33am Dec 24, 2007 3:33am
Quoting deepleo
Closed Long entry from friday at 226.34 [+95] because 30M 200SMA and 1H 100SMA resistance at 226.55.
Beautiful
The more I wait the more I make
  • #72
  • Dec 24, 2007 4:06am Dec 24, 2007 4:06am
Not a lot happening today Guys.

Im going to finish off for the Christmas.

Thanks to anyone who contributed to this thread so far.

Happy Christmas to all.
Talk to you all in a few days when i'm 20 lbs heavier.


My progress since I started this system

Week 1
Monday +160
Tuesday -54
Wednesday +261
Thursday -74
Friday+ +62
Total +355

Week 2
Monday -62
Tuesday 0
Wednesday +144
Thursday +113
Friday-0
Total +195
Grand total so far +550
The more I wait the more I make
  • #73
  • Dec 24, 2007 4:22am Dec 24, 2007 4:22am
Quoting donagh_1
Not a lot happening today Guys.

Im going to finish off for the Christmas.

Thanks to anyone who contributed to this thread so far.

Happy Christmas to all.
Talk to you all in a few days when i'm 20 lbs heavier.


My progress since I started this system

Week 1
Monday +160
Tuesday -54
Wednesday +261
Thursday -74
Friday+ +62
Total +355

Week 2
Monday -62
Tuesday 0
Wednesday +144
Thursday +113
Friday-0
Total +195
Grand total so far +550
Very impressive!

Because many markets are closed this week so there would be very thin movement.

Merry Christmas & a prosperous new year !
Attached Image
  • #74
  • Dec 24, 2007 4:29am Dec 24, 2007 4:29am
Quoting donagh_1
Hi smjones,

Thanks very much for your comments on this journal.

Love your avatar.

1. Do you also do the rubberband trade?

I do use the rubber band trade but I haven't used it so far since I started this journal. I just missed a few but haven't caught one beacuse you have to get in on them straight away. There was a beautiful one on friday. You may have noticed, DeepLeo posted a good chart of it which went on to move 200 pips.

I prefer the A up or A down trade at the moment because they are more reliable and easier to judge. The rubber band trade is fantastic but you need to be trading very confidently. And you need to make sure your stop is put in straight away as it can be very dangerous if you don't.
I think if you fancy using these trades you should practice them with mini lots till you get the feel for them.

2. When in a trade, Fisher states that time is more important than price. How long do you allow for the maximum time without movement, to avoid becoming a Bus Trader?

I do not go by this rule personally. from trial and error I have closed too many trades to avoid becoming a bus trader only to watch the trade eventually take off in the right direction.

3. I noticed you are looking at the market on a 15 min time frame. Is this just a convenient time frame for you, or what was your criteria for choosing it?

I like the 15 minute time frame because it is easier to gauge when you have a proper A up or A down as It has to stay at lease half the time of the opening range period which is 15 minutes, half of 30 minutes.

Happy trading
Thanks for the answers. Looks like you are having great success with the method. Congrats. One last question; because you said you are only placing one trade a day, does that mean you are not doing the "C" trade, when it becomes available?
  • #75
  • Dec 25, 2007 9:55am Dec 25, 2007 9:55am
This looks like a very intuitive system and I especially like the precision and simplicity of the signals. i might have to pick up yet another trading book. I am planning to give this a shot in the coming week. I saw that Fisher has USDCAD start range listed as 8:20 EST which made me optimistic that i would not have to wake up at weird hours, but my charts showed that most of the movement occured earlier, as with other currencies... but this system looks like a winner to me. thanks for sharing this, as well as the hours you came up with and the A values.
  • #76
  • Dec 26, 2007 12:34am Dec 26, 2007 12:34am
Here's a link for the preview of the book.

http://books.google.com/books?id=4xF..._otpL8#PPP1,M1

Note: Seems to be working in Firefox only.
  • #77
  • Dec 26, 2007 8:43am Dec 26, 2007 8:43am
Thanks Deepleo.

That's way better than the PDF version that doesn't have any charts!

The more I see of it the closer I get to buying the whole book.


Quoting deepleo
Here's a link for the preview of the book.

http://books.google.com/books?id=4xF..._otpL8#PPP1,M1

Note: Seems to be working in Firefox only.
  • #78
  • Dec 26, 2007 10:52am Dec 26, 2007 10:52am
I missed where C was defined. I saw A is 32 pips. what do you guys use for C for GJ?
  • #79
  • Dec 26, 2007 12:55pm Dec 26, 2007 12:55pm
Quoting natejax
I missed where C was defined. I saw A is 32 pips. what do you guys use for C for GJ?
I think it's 56. [Donagh, please correct me, if I'm wrong]
  • #80
  • Dec 26, 2007 1:32pm Dec 26, 2007 1:32pm
thanks... i really like this system and am going to be trying it on demo. but instead of watching the charts, i am setting a price-email alert for the A prices after the 9:30 EST and then going to bed. this way i will only get woken up if there is a trade brewing... also, i will be able to jump on those few early trades that set up before 7GMT
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