ACD Method on GBP/JPY One trade a day | Page 19 | Forex Factory

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ACD Method on GBP/JPY One trade a day

  • #361
  • Feb 12, 2008 1:32am Feb 12, 2008 1:32am
Sounds good. Thanks to you and thanks to Scott. Looking forward to test driving the indicator.

Regards

Lux
MT4 EA, Indicator and Alert Coder Since 2006
  • #362
  • Edited 3:04am Feb 12, 2008 2:41am | Edited 3:04am
Quoting donagh_1
Just went long 208.99 on A up.
Stop 208.36
just closed that trade on 209.11
based on SMJones exit strategy.

For + 12 pips

I think I might have gotten out earlier only I have to get used to this new indicator
I will upload what he sent me.

My God Im just looking at the chart now, looks like that was a good thing to exit.

These files are from Scott.
He is a very tallented and experienced trader and also a very generous
and kind person for sharing this with us.


Donagh
Attached File(s)
File Type: doc ACD and PLDOT.doc   27 KB | 696 downloads
File Type: ex4 ScottsPLDot Indicator.ex4   7 KB | 478 downloads
The more I wait the more I make
  • #363
  • Feb 12, 2008 2:56am Feb 12, 2008 2:56am
donagh,

Notice that the futures are less than 1%i but starting to sell off and that the gj is now ranging and just starting to move down.
Attached Image
  • #364
  • Feb 12, 2008 2:57am Feb 12, 2008 2:57am
Just took A down Short on Eur/Usd

Price 1.4507

Stop 1.4545

Will use smjones(Scotts) indicator to exit trade
The more I wait the more I make
  • #365
  • Feb 12, 2008 3:00am Feb 12, 2008 3:00am
Quoting donagh_1
just closed that trade on 209.11
based on SMJones exit strategy.

For + 12 pips

I think I might have gotten out earlier only I have to get used to this new indicator
I will upload what he sent me.

My God Im just looking at the chart now, looks like that was a good thing to exit.

These files are from Scott.
He is a very tallented and experienced trader and also a very generous
and kind person for sharing this with us.


Donagh
could you remove the pdf, that would vilate a copyright to publish publically without the book's permission. the other two are fine as they are mine.
and the pdf does not really add to my concept, it just explains what drummond is and I think people can google for that. thanks scott
  • #366
  • Feb 12, 2008 3:01am Feb 12, 2008 3:01am
Quoting smjones
donagh,

Notice that the futures are less than 1%i but starting to sell off and that the gj is now ranging and just starting to move down.
This is great stuff!
I was aware of that in the last trade after reading your doc.
So as soon as the dots on the indicator got closer together I exited.

Are you still up since yesterday, Don't you sleep? lol
Thanks Scott.
The more I wait the more I make
  • #367
  • Feb 12, 2008 3:04am Feb 12, 2008 3:04am
Quoting donagh_1
This is great stuff!
I was aware of that in the last trade after reading your doc.
So as soon as the dots on the indicator got closer together I exited.

Are you still up since yesterday, Don't you sleep? lol
Thanks Scott.
Not much,LOL I sleep about 3 hours a night, always have.. Tht'swhy merlin wanted me to be a mod... LOL
  • #368
  • Feb 12, 2008 3:06am Feb 12, 2008 3:06am
Quoting donagh_1
This is great stuff!
I was aware of that in the last trade after reading your doc.
So as soon as the dots on the indicator got closer together I exited.

Are you still up since yesterday, Don't you sleep? lol
Thanks Scott.
Pleas note that the futures are now at .31 % down and the gj is still ranging, but listing down.
  • #369
  • Feb 12, 2008 3:10am Feb 12, 2008 3:10am
Quoting smjones
Not much,LOL I sleep about 3 hours a night, always have.. Tht'swhy merlin wanted me to be a mod... LOL
LOL thats very funny,
Actually I was surprised when I realized you were based in the US. I thought you were based in Australia.lol
Thats removed now.
The more I wait the more I make
  • #370
  • Feb 12, 2008 3:12am Feb 12, 2008 3:12am
Quoting smjones
Pleas note that the futures are now at .31 % down and the gj is still ranging, but listing down.
Any thoughts on my Eur/Usd Short?
Does the futures effect it also?
The more I wait the more I make
  • #371
  • Feb 12, 2008 3:18am Feb 12, 2008 3:18am
Quoting donagh_1
Any thoughts on my Eur/Usd Short?
Does the futures effect it also?
I have not done any studies on this. however, I t may, because the Euro is used as a purchasing currency and especially during the london and euro sessions. However, there is no cheap funding currency compontant. I wonder if the ftse100 dax30 and cac40 would be something to look at... I see right now, the eu is slightly lower, and ranging, and those futures are at about 0.16% change.

This would have to be studied. sounds like a fun project.

If you think about it, the Eurjpy may be more effected than the eurusd. but I cannot say for sure without doing the research, on correlations.
  • #372
  • Feb 12, 2008 3:33am Feb 12, 2008 3:33am
Ok, the GBP news just came out and is pound negative, so we may see the futures down pick up and also the gj. GJ may be worth watching now with the futures rates on the dow and sp500

Although, I would not get too excited about a c down, unles the futures were to move closer to down 1% or more then there might be a reason to look closer at it.
  • #373
  • Feb 12, 2008 3:47am Feb 12, 2008 3:47am
Thats a good filter for the C trade.
I like that. It makes good sense
The more I wait the more I make
  • #374
  • Feb 12, 2008 3:59am Feb 12, 2008 3:59am
I have a problem I cannot read Scotts indicatoron Metatrader... Does anybody know why ?

Thanks
  • #375
  • Feb 12, 2008 4:01am Feb 12, 2008 4:01am
Well I would be careful about not following the rules of entry for fisher's concept. So filters always reduce opportunity as well. What I ment was I would be cautious about the trade and probably pay much closer attention to the exit time, unless the % change on futures were strong. Or if I did not feel comfortable with the ranging motion, I may just pass on the trade all together, knowing there is always another trade just around the corner.

This is where the discretion comes into to play in a trading system, in my opinion.
  • #376
  • Feb 12, 2008 4:09am Feb 12, 2008 4:09am
Quoting donagh_1
Just took A down Short on Eur/Usd

Price 1.4507

Stop 1.4545

Will use smjones(Scotts) indicator to exit trade
I just closed this trade at 1.4519 for a loss of -17 pips.

Unfortunately I ignored scotts exit indicator and was really chancing my arm hoping for a very negative ZEW economic sentiment number but it wasn't as bad as expected.
The more I wait the more I make
  • #377
  • Feb 12, 2008 4:20am Feb 12, 2008 4:20am
Hey Guys, Does anyone here ever trade GBP/CHF

Look at this excellent range it has been in since mid Jan...
Look how accurately it bounces off its range lines...
It looks like a range traders dream to me.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_chf.gif Size: 22 KB
The more I wait the more I make
  • #378
  • Feb 12, 2008 4:23am Feb 12, 2008 4:23am
Quoting galis
I have a problem I cannot read Scotts indicatoron Metatrader... Does anybody know why ?

Thanks
Thats strange,
I just saved in the usual ..experts/indicators/ folder.

Sorry Galis, no Idea why it doesnt work.
Can you see it in your custom indicators?
The more I wait the more I make
  • #379
  • Feb 12, 2008 4:35am Feb 12, 2008 4:35am
Quoting donagh_1
Hey Guys, Does anyone here ever trade GBP/CHF

Look at this excellent range it has been in since mid Jan...
Look how accurately it bounces off its range lines...
It looks like a range traders dream to me.

I noticed that your screen has the ohlc for the currency in the upper left hand corner. If that is interfering with the two numbers that my indicator prints in the corner, you can turn the ohlc off by right clicking on the chart, select properties, select common, and un-check Show OHLC
  • #380
  • Feb 12, 2008 4:47am Feb 12, 2008 4:47am
LOL look at the futures now and look at Gj FLAT...
Attached Image
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