ACD Method on GBP/JPY One trade a day | Page 15 | Forex Factory

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ACD Method on GBP/JPY One trade a day

  • #281
  • Jan 17, 2008 1:09am Jan 17, 2008 1:09am
[quote=donagh_1;1802593]
Quoting donagh_1

just gone long g/j on C up at price 211.85 (double lot size)

quote]

stop 211.42
Lost -88 pips on that one.

a loss of -223 pips for the day.
I didn't trade yesterday as I needed a day too cool off.

Just went long at 210.62 on retrace from A up that was made earlier.
stop at 209.94
The more I wait the more I make
  • #282
  • Jan 17, 2008 2:56am Jan 17, 2008 2:56am
[quote=donagh_1;1806429]
Quoting donagh_1

Lost -88 pips on that one.

a loss of -223 pips for the day.
I didn't trade yesterday as I needed a day too cool off.

Yes, it is more difficult to succeed when going against the trend.


Just went long at 210.62 on retrace from A up that was made earlier.
stop at 209.94
Should have made a few pips on that one.
  • #283
  • Jan 17, 2008 3:13am Jan 17, 2008 3:13am
Closed that trade at 212.23
for +161 pip profit

Its probably got a long way up to go but Im not taking any chances
after my bad results of late.

I'll have to wait to gain more confidence again.

Thats me finished for the day.
The more I wait the more I make
  • #284
  • Jan 17, 2008 7:34am Jan 17, 2008 7:34am
Hi Donagh

Im new to trading and just discovered your thread. Its very interesting and something Im going to try. Been trading G/J pair on another set of rules recently and also made losses last 2 days. Seems market just was bit mixed up! We will just have to keep on! Thanks anyway.
  • #285
  • Jan 20, 2008 6:35pm Jan 20, 2008 6:35pm
Quoting Constantia
Hi Donagh

Im new to trading and just discovered your thread. Its very interesting and something Im going to try. Been trading G/J pair on another set of rules recently and also made losses last 2 days. Seems market just was bit mixed up! We will just have to keep on! Thanks anyway.
Hi Constantia,

Thats the spirit, just have to keep on. I agree.

If you're new to trading just make sure you stick to STRICT money management at all times and in the log run, you will prevail!

Happy trading
The more I wait the more I make
  • #286
  • Jan 21, 2008 2:31am Jan 21, 2008 2:31am
Went short at 207.38, was up a bit late to get in earlier.
double lot size, so I have been watching it anxiously for the last half hour.
Its broken through 207 where I closed half the lot at 206.98 for
+40 pips.
Its sailing down right now

going to watch closely for next support level on u/j which is at 105.90
18 pips away
The more I wait the more I make
  • #287
  • Jan 21, 2008 4:31am Jan 21, 2008 4:31am
I closed that second half of my trade at 206.82
for +54
I think it might bounce around here.
Im still playing it ultra safe after losing so much last week.
The more I wait the more I make
  • #288
  • Jan 21, 2008 5:19am Jan 21, 2008 5:19am
Well we missed quite a few pips on GBP/JPY. I acted just like you.

But there may be an opening on GBP/USD on an A down...
  • #289
  • Jan 22, 2008 1:11am Jan 22, 2008 1:11am
just sold at 205.38,
stop at 206.25

My stop isn't above the opening range in the correct point b because its too far away. maybe I should really have reduced my size and then I would be able to put the stop in the right place but what the heck.
The more I wait the more I make
  • #290
  • Jan 22, 2008 2:27am Jan 22, 2008 2:27am
donagh, I hope you sold on time !

But tell me what does Prechter say about exit points ?

Thanks
  • #291
  • Jan 22, 2008 3:42am Jan 22, 2008 3:42am
donagh, I mean bought back !!!
  • #292
  • Jan 22, 2008 5:25pm Jan 22, 2008 5:25pm
Quoting galis
donagh, I hope you sold on time !

But tell me what does Prechter say about exit points ?

Thanks
No Galis
I didn't close in time and I didn't buy back.

I lost -91 pips.

I had to go out for the day today and for the first time in a while I didn't close early as I mistakingly thought it was going down for the day.

Boy was i wrong!

Well I've had a few chalanging weeks now but I'm still well up over all
I must go back and work it out.

I think tomorrow I am going to make a change to my profit taking method to
make it more mechanical and set in stone.

maybe close half the trade at 50 pips move the rest to break even and then walk away. that would have saved me a lot of money today and gained me more money yesterday(monday)

Lets hope tomorrow brings us a bounty
The more I wait the more I make
  • #293
  • Jan 22, 2008 11:54pm Jan 22, 2008 11:54pm
donagh,

I haven' read the book yet. I am waiting for it. But I am really eager to since in this system, exit points are crucial. GBP/JPY is a fast mover and highly volatile.

I understand your system of splitting in half your lots. But I believe that if you take a risk with 100 % of your lots, you should take profits with 100% of your lots. Now I am attempting to define a strategy for exit points with ACD. I have tried Cynthia Kase's Dev/stops. But I do not find them satisfactory. I am currently trying an ATR multiple. But in these volatile markets that go back and forth, I find it hard to test almost anything. I do not really believe in backtesting because it often gives you false results. I have red quite a bit on the issue and you have to be a real mathematician/statistician to make sure that your results entail a certain reality.

By the way, thanks for posting this thread. It changed my style of trading and I have found that it suits my trading mentality.
  • #294
  • Jan 23, 2008 3:42am Jan 23, 2008 3:42am
donagh,

I have question :

If a pair does a failed A up. and goes all the way down to A down level. And it stays there for the necessary amount of time to consider it a real A down. Can we short it ? Or is then the C level relevant ?

Take into account that the failed A up was missed.

Thanks !
  • #295
  • Jan 25, 2008 5:16am Jan 25, 2008 5:16am
Quoting galis
donagh,

I have question :

If a pair does a failed A up. and goes all the way down to A down level. And it stays there for the necessary amount of time to consider it a real A down. Can we short it ? Or is then the C level relevant ?

Take into account that the failed A up was missed.

Thanks !
Yes apsolutley you can short it.
It doesn't become a C untill you have a proper A first.
The more I wait the more I make
  • #296
  • Jan 25, 2008 5:38am Jan 25, 2008 5:38am
Quoting galis
donagh,

I haven' read the book yet. I am waiting for it. But I am really eager to since in this system, exit points are crucial. GBP/JPY is a fast mover and highly volatile.

I understand your system of splitting in half your lots. But I believe that if you take a risk with 100 % of your lots, you should take profits with 100% of your lots. Now I am attempting to define a strategy for exit points with ACD. I have tried Cynthia Kase's Dev/stops. But I do not find them satisfactory. I am currently trying an ATR multiple. But in these volatile markets that go back and forth, I find it hard to test almost anything. I do not really believe in backtesting because it often gives you false results. I have red quite a bit on the issue and you have to be a real mathematician/statistician to make sure that your results entail a certain reality.

By the way, thanks for posting this thread. It changed my style of trading and I have found that it suits my trading mentality.
Hi Galis,
I'm really happy that this thread has changed your trading style(hopefully for the better)
Im sure its for the better as you are using it.
I have'nt been trading for a few days as I've been really busy with other stuff and gave the trading a rest for a few days. what a pity though as it looks like I missed a couple of great ACD trades.

Happy trading
The more I wait the more I make
  • #297
  • Jan 25, 2008 5:39am Jan 25, 2008 5:39am
I am still trying to figure out a good exit strategy for my trades.
So for the moment I am just going to try and wing it untill I can figure out the best way to do it.
I am open for suggestions very much If anyone has an educated idea?
The more I wait the more I make
  • #298
  • Jan 25, 2008 5:42am Jan 25, 2008 5:42am
Just went short GBP/USD at 197.82 (A down)
stop- 1.98 48
The more I wait the more I make
  • #299
  • Jan 25, 2008 2:31pm Jan 25, 2008 2:31pm
what is the break down for the last 2 weeks? are you doing this demo or real? when u do this method do u take a look at any other S/R area or just the time frame u mentioned?
  • #300
  • Jan 27, 2008 12:02pm Jan 27, 2008 12:02pm
Quoting donagh_1
Just went short GBP/USD at 197.82 (A down)
stop- 1.98 48
Closed that short on friday evening at the time 18:42
at the price of 197.85 for a loss of 20 pips

I was very lucky i didn't get stopped out as it came within 1 pip of getting stopped out.
The more I wait the more I make
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