ACD Method on GBP/JPY One trade a day | Page 22 | Forex Factory

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ACD Method on GBP/JPY One trade a day

  • #421
  • Feb 21, 2008 7:57am Feb 21, 2008 7:57am
Well It looks so far that I made the right decision moving onto a higher timeframe and looking to other markets for oppertunities.

On that GBP/CHF trade I am currently up +260 pips
With 116 pips locked in and on a free run. Moved my stop to 2.1398.
It was actually over +300 pips up at one point.

I have a limit order in at 2.1735 to close out the trade. Then If it actually reaches that I will look to go short back down. If it breaks at any time out of its current range I think we could be in for a massive move. But in the mean time I'm just going to try play its range until then.

I am at work and am going to upload a chart from my oanda game as I only have meta trader on my home PC. but it looks grand. Its a daily chart...
Happy trading everyone
Attached Image (click to enlarge)
Click to Enlarge Name: go.chf2.JPG Size: 137 KB
The more I wait the more I make
  • #422
  • Feb 21, 2008 9:22am Feb 21, 2008 9:22am
Quoting donagh_1
Hi Giraria.
WELCOME MY FRIEND. welcome too the MAchine!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


There is no sicience to finding the ACD values.
Its all just trial and error! Thats how I found The ACD Values for G/J
but id like to insist, using the ATR method, how should i do that? i need to understand it

but i agree. In the book Fisher says that he found it using some secret algorithm. So for us i think that trial and error is the best solution.

but still wanting to know that method using ATR.

thanks in advance.
  • #423
  • Feb 21, 2008 9:45am Feb 21, 2008 9:45am
Quoting donagh_1
I have decided that I am quitting my ACD day trading Method which I started when I started this thread.

Although I have been very sucsessfull initially for the first month day trading this system I have found it to be increasingly hard to be consistantly profitable in these ranging markets of late.

I now realise that I did not really back test this system far enough back and now see that current ranging market can even get worse than they are at the moment

I may return to this method when we break out of this range again.
But for the mean time I am going to trade other markets and on longer timeframes.

I have found that there is way too much noise in the market during the hours that I trade every morning and while that noise is fine when we are trending. It is very difficult when whipsawing around and not really going anywhere.
Sure you could try scalping it but after time scalping always catches up on you and bites your ass off! [Well in my experience anyway]

I am not giving up trading and I will still use this journal to record all my trades and the logic behind them in fact I am in a trade now which I will post in the next post.

I want to thank everybody who contributed to this thread especially Scott(SMJones), deepleo, Natejax, FX1618, Giraria, Galis.

You have all been very helpfull and insipational in what I have been trying to do.
Please keep checking into this thread as This thread is not dead but only being re-born for a greater good.

I Shall Prevail!!


Donagh
oh, what a pitty! But i understand, i am wathing gy all these days and is dificult to determine good entries using ACD points

but your thread did help me to study the book. And i will still here reading.

thanks for all and good luck with your new method.
  • #424
  • Feb 21, 2008 3:19pm Feb 21, 2008 3:19pm
Quoting giraia_br
but id like to insist, using the ATR method, how should i do that? i need to understand it

but i agree. In the book Fisher says that he found it using some secret algorithm. So for us i think that trial and error is the best solution.

but still wanting to know that method using ATR.

thanks in advance.
Hi Giraia,
Is this what you're looking for?
This is what he has on his website
A= 10% of ATR
C= 1.5 * A
You can find more info here http://www.thelogicaltrader.net/
The more I wait the more I make
  • #425
  • Feb 21, 2008 11:43pm Feb 21, 2008 11:43pm
Gibraia,

Hi I don't mean to confuse you.

But this is what I have found out after constant research :

A = ATR(30days) x 10%
C= A x 1,5
  • #426
  • Feb 21, 2008 11:46pm Feb 21, 2008 11:46pm
Donagh,

I don't understand the method you are using... PLdot. Drummond's ?

Cabn you explain ?
  • #427
  • Feb 22, 2008 2:40am Feb 22, 2008 2:40am
Quoting galis
Donagh,

I don't understand the method you are using... PLdot. Drummond's ?

Cabn you explain ?
Hi Galis,

I'm actually not using that method to be honest.

I know the indicator was on one of my last charts but
Its only because I forgot to take it off.
I was taking a look at it but out of lazyness left it on there.

At the moment I am just looking at varios pairs on the daily or 4 hour chart and waiting for them to reach the bottom or top of their ranges and then buying and selling accordingly.
Mind you, you need a lot of patience as I've only had one trade since.
In my next post I will put up a few charts I am keeping an eye on.
The more I wait the more I make
  • #428
  • Feb 22, 2008 3:50am Feb 22, 2008 3:50am
I got stopped out of the GBP/CHF trade for a win of +116 pips.
I know it was up a lot more but I'm still very happy to get a big positive number on my account.

I've just gone short Eur/Jpy
Price 158.94
Stop 159.80

Its just come off 159.25 resistance level which it hasn't been able to penetrate properly since Jan 15.

attached is a chart of what Im looking at
Attached Image (click to enlarge)
Click to Enlarge Name: eur.jpy.gif Size: 22 KB
The more I wait the more I make
  • #429
  • Feb 22, 2008 3:57am Feb 22, 2008 3:57am
Interesting Donagh,

I have switched to ACD 1hour for Yen pairs and 90 mns for European currencies. The difference lies in my charting service... Complicated to explain, but it does not matter.

The main problem in our markets is that when the price reaches the A down or up, the market has reached the bottom or the ceiling of the oscillator (RSI on my charts),. Since we have terribly volatile markets and for the reasons I explained in my previous email, the market shoots back. Frustrating.

I was reading Scott's emails. And his system is very interesting because it takes into account the whole picture (see futures index). I was 2 days ago at a bank (Italian : Albertini/private banking). I was listening to their analysis of the market. Nothing interesting except the fact that they have now changed their whole argumentation. "We are now giving more weight to the fundamentals of the economy and less to the financial data.", said the speaker. Mind blowing. My jaw dropped. I thought bankers always did that !
  • #430
  • Feb 22, 2008 4:19am Feb 22, 2008 4:19am
Donagh,

I understand you use fibo's as a breakout system ?
  • #431
  • Feb 22, 2008 7:06am Feb 22, 2008 7:06am
Quoting galis
Interesting Donagh,

I have switched to ACD 1hour for Yen pairs and 90 mns for European currencies. The difference lies in my charting service... Complicated to explain, but it does not matter.

The main problem in our markets is that when the price reaches the A down or up, the market has reached the bottom or the ceiling of the oscillator (RSI on my charts),. Since we have terribly volatile markets and for the reasons I explained in my previous email, the market shoots back. Frustrating.

I was reading Scott's emails. And his system is very interesting because it takes into account the whole picture (see futures index). I was 2 days ago at a bank (Italian : Albertini/private banking). I was listening to their analysis of the market. Nothing interesting except the fact that they have now changed their whole argumentation. "We are now giving more weight to the fundamentals of the economy and less to the financial data.", said the speaker. Mind blowing. My jaw dropped. I thought bankers always did that !
Yes There's been a lot of really dodgy banking over the last few years.
It seems as though banks are run by Sales men and not real bankers anymore.
The more I wait the more I make
  • #432
  • Feb 22, 2008 7:22am Feb 22, 2008 7:22am
Quoting galis
Donagh,

I understand you use fibo's as a breakout system ?
Well breakout or range trading.

Im taking into consideration much bigger ranges than before, So less trading
and higher timeframes and hopefully my capital will be preserved longer.

I'm trying to only trade off the most significant levels as possible or else dont trade at all. I just think that with all the uncertanty and also seemingly low volumes that selective trading is what is going to get me through this period.
The more I wait the more I make
  • #433
  • Feb 22, 2008 9:44am Feb 22, 2008 9:44am
I just closed that Eur/Jpy short at 158.22
for +72 pips.

I looks like it's going to go on further but I just wouldn't mind going into the weekend on a high note in case it whips back up again.
The more I wait the more I make
  • #434
  • Feb 23, 2008 12:18pm Feb 23, 2008 12:18pm
My results so far
Week 1 +355
Week 2 +195
Week 3 -21
week 4 +302
week 5 -149
Week 6 -24
Week 7 -57
Week 8 +175
Week 9 +4
Week 10 +125
Grand total so far +905

So Im slowly getting back into the groove again.
The Markets are very tricky at the moment and I have abandoned my ACD system to get me through this difficult time. Maybe I should change the name of the thread. But I will I'm sure return at some time to trading ACD signals.

But for the mean time I am only concentrating on finding Big significant levels
and playing the bounce back off them or else the break out if it happens through them. Concentrating on only 4 hour timeframes and above.
It is a decision which has so far reduced my trades and increased my profitability and lowered my stress levels.

This thread was never about a system but about me recording what I do live.
It has helped my disipline and review what I have been doing.
I can now say that I am very happy that I have recoverd fully from the bad weeks by changing my system and I now look forward to building my account as a result.
The more I wait the more I make
  • #435
  • Feb 25, 2008 6:18am Feb 25, 2008 6:18am
Just went long Eur/Jpy at 159.72

It's broken through a significant resistance level with a close of the 4 hour candle.

Stop is at 159.20
If price gets to 160.90 I'll put stop at breakeven and consider taking some profit but I will see what price action is like if it gets there.
Attached Image (click to enlarge)
Click to Enlarge Name: eur.jpy2.gif Size: 17 KB
The more I wait the more I make
  • #436
  • Feb 26, 2008 2:20am Feb 26, 2008 2:20am
Donagh,

I got into that trade a little earlier 159,56. Booked my profits a little early : 160,01. I did not trust the run. We are in choppy markets with no real direction. I am looking at the Euro/USD closely. It seems like it is out of breath. Despite the real interest rate difference, the € is not managing well.

I have added my Elliott wave count which you can disregard. Yet I have noticed in the past that this sort of stalling often preludes a correction.
Attached Image (click to enlarge)
Click to Enlarge Name: img_12040138893969.jpg Size: 203 KB
  • #437
  • Feb 26, 2008 2:20am Feb 26, 2008 2:20am
Sorry for the bad quality of the picture, will try to do better next time
  • #438
  • Feb 26, 2008 4:18am Feb 26, 2008 4:18am
I made a slight correction
Attached Image (click to enlarge)
Click to Enlarge Name: img_12040209296060.jpg Size: 223 KB
  • #439
  • Feb 26, 2008 4:52am Feb 26, 2008 4:52am
Quoting galis
Donagh,

I got into that trade a little earlier 159,56. Booked my profits a little early : 160,01. I did not trust the run. We are in choppy markets with no real direction. I am looking at the Euro/USD closely. It seems like it is out of breath. Despite the real interest rate difference, the € is not managing well.

I have added my Elliott wave count which you can disregard. Yet I have noticed in the past that this sort of stalling often preludes a correction.
Hi Galis.

Good stuff on the the above trade.
I decided to lock in profit at 160.22 (+50 pips) Thanks for the chart on Eur/usd
I've been looking at it myself thinking the same thing.
In fact I might sell a small bit now.
The more I wait the more I make
  • #440
  • Feb 26, 2008 5:00am Feb 26, 2008 5:00am
just went short eur/usd at 1.4866(small size)
stop 1.4975

I will go short more if it comes back up
The more I wait the more I make
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