ACD Method on GBP/JPY One trade a day | Page 12 | Forex Factory

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ACD Method on GBP/JPY One trade a day

  • #221
  • Jan 9, 2008 6:10am Jan 9, 2008 6:10am
closed that short trade at 9:40 at a price of 14.49 for +25 pips.(but double my normal lot size)

Didn't post it then as i got a call out from work for an emergency so I just
closed it straight away as I've had too many profitable trades recently
turn around into losers.

Im just looking and it looks like its going down again.
The more I wait the more I make
  • #222
  • Jan 9, 2008 6:20am Jan 9, 2008 6:20am
Quoting galis
Did the same thing Donagh ! 214,73
Hi Galis,

just wondering if you were still short?
The more I wait the more I make
  • #223
  • Jan 9, 2008 4:48pm Jan 9, 2008 4:48pm
Quoting smjones
Here is one I found while searching FF. I modified it so it has the correct defaults for GBPJPY
Awesome..Thanks Scott!!
  • #224
  • Jan 9, 2008 5:55pm Jan 9, 2008 5:55pm
Quoting smjones
Here is one I found while searching FF. I modified it so it has the correct defaults for GBPJPY
Per the indicator, the GBPJPY start has been set to 0200GMT. However, the Tokyo markets open at 0000 GMT. Is there reason why we are setting 2am GMT as the opening range for the ACD indicator?
  • #225
  • Jan 9, 2008 6:28pm Jan 9, 2008 6:28pm
Quoting Eklavya
Per the indicator, the GBPJPY start has been set to 0200GMT. However, the Tokyo markets open at 0000 GMT. Is there reason why we are setting 2am GMT as the opening range for the ACD indicator?
Have you read The Logical Trader by Mark Fisher? It is in the appendix.
  • #226
  • Jan 9, 2008 7:05pm Jan 9, 2008 7:05pm
Quoting smjones
Have you read The Logical Trader by Mark Fisher? It is in the appendix.
Well..Yeah..the book does say 0200GMT..though I cannot find any logic behind selecting that time as the opening range especially if the banks in Japan open at midnight GMT. At the risk of hurting the japanese, the one reason I can think of is that japanese are lazy and don't really start working for 2 hrs after they open. So Fischer is suggesting using 0200 as Japan open range start.

But knowing the japanese, I don't believe that could be true.
  • #227
  • Jan 9, 2008 7:09pm Jan 9, 2008 7:09pm
Quoting Eklavya
Well..Yeah..the book does say 0200GMT..though I cannot find any logic behind selecting that time as the opening range especially if the banks in Japan open at midnight GMT. At the risk of hurting the japanese, the one reason I can think of is that japanese are lazy and don't really start working for 2 hrs after they open. So Fischer is suggesting using 0200 as Japan open range start.

But knowing the japanese, I don't believe that could be true.
Yea, I think he was trying to pick a time that would encompass both GBP and JPY.. Maybe you could experiment and see if one is better than the other. I think Mark talks about making the system personalized... It never hurts to think outside the box. LOL
  • #228
  • Jan 9, 2008 7:16pm Jan 9, 2008 7:16pm
Quoting smjones
Have you read The Logical Trader by Mark Fisher? It is in the appendix.
Scott,

There's no opening range defined for the GBPJPY in the appendix, the appendix/Table A.5 lists GBPUSD, USDCAD, EURUSD, and USDJPY. Or is it listed somewhere in the text?
Please let me know.

Regards
  • #229
  • Jan 9, 2008 7:55pm Jan 9, 2008 7:55pm
Quoting deepleo
Scott,

There's no opening range defined for the GBPJPY in the appendix, the appendix/Table A.5 lists GBPUSD, USDCAD, EURUSD, and USDJPY. Or is it listed somewhere in the text?
Please let me know.

Regards
I ment a combination of Usdjpy and gbpusd... Sorry. That is why I said it was trying to take both opening in to account, in my opinion.
  • #230
  • Jan 10, 2008 4:20am Jan 10, 2008 4:20am
Went long at 215.42
stop 215.30
Don't trust this one and will watch like a hawk to close.
The more I wait the more I make
  • #231
  • Jan 10, 2008 4:30am Jan 10, 2008 4:30am
Quoting donagh_1
Went long at 215.42
stop 215.30
Don't trust this one and will watch like a hawk to close.
donagh, why don't you trust this one?
  • #232
  • Jan 10, 2008 4:39am Jan 10, 2008 4:39am
closed at 215.70
for +28 pips

I'm too nervous trading with the BOE statement coming out in a hour and a half to hold on much longer.

I'm also very annoyed I didn't take the failed A down trade this morning.
I'm going to make a concerted effort to take more of these in the future.
The more I wait the more I make
  • #233
  • Jan 10, 2008 4:48am Jan 10, 2008 4:48am
Quoting Fx1618
donagh, why don't you trust this one?

I just think that the big traders are moving the pound up to position it for a big short should the BOE cut rates at 7:00 est.

This is driving g/j up and u/j does'nt look very bullish which if they do cut
rates it will cause g/j to tank very quickly.

Also we've been very range bound this week

Thats whats in my paranoid head anyway.

Failed A signals are the way forward at the moment I think
The more I wait the more I make
  • #234
  • Jan 10, 2008 4:50am Jan 10, 2008 4:50am
So Donagh, are you putting in an order for the expected rate cut and the subsequent reaction to it? Or doesnt that fit with your trading system?

Steve
  • #235
  • Jan 10, 2008 4:53am Jan 10, 2008 4:53am
I also think that we are range bound this week, I do not know the geppy that way and it is making me a bit paranoid as well :-)
  • #236
  • Jan 10, 2008 5:11am Jan 10, 2008 5:11am
Quoting chameleon1
So Donagh, are you putting in an order for the expected rate cut and the subsequent reaction to it? Or doesnt that fit with your trading system?

Steve
Im no good with orders,
Especially around news times. Too much whipping around for me.

but if you have any suggestion I might try it out with a mini lot?
The more I wait the more I make
  • #237
  • Jan 10, 2008 5:14am Jan 10, 2008 5:14am
Quoting Fx1618
I also think that we are range bound this week, I do not know the geppy that way and it is making me a bit paranoid as well :-)
Well the geppy does get like this alright. A good few times a year.
These are the periods which I have too use the Failed A signals, cause they DO work. I just need to have more confidence in them.

As the saying goes the hardest trades are quite often the best trades.
The more I wait the more I make
  • #238
  • Jan 10, 2008 5:48am Jan 10, 2008 5:48am
Quoting smjones
Here is one I found while searching FF. I modified it so it has the correct defaults for GBPJPY

Wow!

I just tried that out ....its brilliant!

Thaks a million Scott
The more I wait the more I make
  • #239
  • Jan 10, 2008 10:47am Jan 10, 2008 10:47am
Just took the C down at 214.00
stop at 215.11(massive stop I know)

Im just going to let this run utill NY close
The more I wait the more I make
  • #240
  • Jan 11, 2008 9:42am Jan 11, 2008 9:42am
I got stoped out of that trade last night by a whisker.
It just touched 115.11 stoped me out and went no further.
It actually reversed and went down as far as 211.98


-111 pips (my biggest loss so far)
The more I wait the more I make
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