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Simplicity is the Key

  • #2,481
  • Apr 13, 2008 11:28pm Apr 13, 2008 11:28pm
Trader101,
have u notice that when one gets EU. UJ and GJ in the correct direction, everything else seems to fall in place perfectly?

(this time i have a couple contrarian JPY positions open, just in case JPY betrays me for some reason. so far everything working fine.

since i took this from the daily charts, if they work out i may consider leaving this open more than 24 hours.... we'll see tomorrow.... so far +70 pips at the moment.

( i ran into some problems with some stupid 'close all' script and had to reopen my trades -- as long as everything bad happens to me during demo, i'm fine. )

CJ.-
  • #2,482
  • Apr 14, 2008 6:57am Apr 14, 2008 6:57am
trades opened yesterday.....
rocking at the moment!
gotta love it.

i'll stay in for the time being... MAYBE will close this afternoon, in 8 hours or so.

CJ.-
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  • #2,483
  • Apr 14, 2008 7:09am Apr 14, 2008 7:09am
Quoting ZeeJay
trades opened yesterday.....
rocking at the moment!
gotta love it.

i'll stay in for the time being... MAYBE will close this afternoon, in 8 hours or so.

CJ.-
Good for you, Bro..Becoming a real master now.
If you nail the 7 majors correctly you are in cloud nine. the hardest to get is the UCAD. JPY cross is easy to nail but if wrong will be disaster. Nice hedging there too. You have over 700 pips now. Some traders takes months to acquire that number you have it in less than a day. Nice going bro.
  • #2,484
  • Apr 14, 2008 4:08pm Apr 14, 2008 4:08pm
CJ - Just wondering - are you still in your trades?
  • #2,485
  • Apr 14, 2008 6:24pm Apr 14, 2008 6:24pm
Quoting hansel
CJ - Just wondering - are you still in your trades?

yes, i still have not decided if i will stay in them or not , one more day.
at the moment : +533 pips.

GBPUSD retraced on me BUT, that's a good retracement that i expected, because it made my GBPJPY trade to go from bad to good.

that's the idea : be hedged at all times.... remember you ALWAYS want to have at least TWO loosing trades in a set.....they're your stop-loss in case the market goes the other way.

CJ.-
  • #2,486
  • Apr 14, 2008 6:47pm Apr 14, 2008 6:47pm
Quoting ZeeJay
yes, i still have not decided if i will stay in them or not , one more day.
at the moment : +533 pips.

GBPUSD retraced on me BUT, that's a good retracement that i expected, because it made my GBPJPY trade to go from bad to good.

that's the idea : be hedged at all times.... remember you ALWAYS want to have at least TWO loosing trades in a set.....they're your stop-loss in case the market goes the other way.

CJ.-
hey cj, do u have any trades open today, will like to compare thx
  • #2,487
  • Apr 14, 2008 8:25pm Apr 14, 2008 8:25pm
hey guys.
decided to close and re-open .

here's the 2 screens.
(changed trades a bit --- for the best, i hope )
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  • #2,488
  • Apr 15, 2008 9:44am Apr 15, 2008 9:44am
CJ, how do you decide when to exit? And, if the trend looks like it continues do you still close and reopen?
  • #2,489
  • Apr 15, 2008 9:59am Apr 15, 2008 9:59am
Quoting Mantorp
CJ, how do you decide when to exit? And, if the trend looks like it continues do you still close and reopen?
Not sure how cj exits but Master T101 takes profit around 300pips altogether
  • #2,490
  • Apr 15, 2008 10:15am Apr 15, 2008 10:15am
Quoting goodness
Not sure how cj exits but Master T101 takes profit around 300pips altogether
Thanks
  • #2,491
  • Apr 15, 2008 10:16am Apr 15, 2008 10:16am
If you look at the last screenshots, CJ is trading from the daily charts mainly. When Trader101 trades from these charts he is looking for 1000+ pips, and the trades last for the whole week. If there is a major drawdown, he will close earlier and then begin new trades. Otherwise he lets them run until he reaches his goal or the week ends.

When he trades from the 4 hour charts, he takes profit at 200-300 pips.

I hope that helps.
  • #2,492
  • Apr 15, 2008 10:21am Apr 15, 2008 10:21am
Quoting goodness
Not sure how cj exits but Master T101 takes profit around 300pips altogether
it's all part of a plan.
if i choose to exit within 24 hours i will ( no matter what pip count ).
if it's longer term, i will leave it on, unless it goes superbad.

in today's example : i had around +200 then after 8:30am Eastern Times, news killed my trade and i decided to close at +30. I'm NOT sure it was a good decision ( because this wasn't planned) ...but it's better to be on the sidelines without a loss for the time being. regroup, plan better, and attack again.

as of now : i have not tested Trader101's style in longer than 24-hour trades.

CJ.-
  • #2,493
  • Apr 15, 2008 10:28am Apr 15, 2008 10:28am
Quoting ZeeJay
regroup, plan better, and attack again.
CJ.-
I like the way you think!

It can be a battle. So when will you attack again?

By the way, where is Trader101 this week? Testing out his new EA?
  • #2,494
  • Apr 15, 2008 11:05am Apr 15, 2008 11:05am
Quoting hansel
I like the way you think!

It can be a battle. So when will you attack again?

By the way, where is Trader101 this week? Testing out his new EA?
i memorized what all the major pairs have done so far....
so, i will use this information this afternoon after work (6pm Eastern time), to setup new trades for the next 24 hours.

like i said, i could be right on the trends that i had originally, but the news this morning put me in an uncomfortable position, so, i decided to be out.

I could trade right now, but then i'll blame it on my job if trades go bad .



CJ.-
  • #2,495
  • Apr 15, 2008 11:51am Apr 15, 2008 11:51am
I tested this EA with other pairs,seems positive result.
Any result for using this EA trading live accounts now
tks
  • #2,496
  • Apr 15, 2008 12:05pm Apr 15, 2008 12:05pm
Quoting ele
I tested this EA with other pairs,seems positive result.
Any result for using this EA trading live accounts now
tks

EA not positive for me! keeps opening position and closing them at loss
  • #2,497
  • Apr 15, 2008 6:50pm Apr 15, 2008 6:50pm
Hello.
Been very busy that i wasnt able to hang out with your guys. Thanks CJ for making this thread alive. You are a savior. I made some trades today mostly JPY and a few and it is attached below. That is a Long Term trades. Some of you are asking why sometimes i trade on Sundays and sometimes i start on Tuesday night. Sometimes on Sunday i start the Long term Trade if i fell that the Cpairs are in an unsual level like it is in the low level (dont ask me how i get it) the i will trade LOng (because most of the currencies have a positive swap on the long. The tendency of currency pairs is to gravitates to the higher interest rate one, until Wednesday rollover rates. If the Cpairs are in a level that is high, so youhave to go short then i will be hesitant to start in Sunday. I will patiently wait until Tuesday ngiht when i can see signs of going Long. that is the reason. Hope this helps
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  • #2,498
  • Apr 15, 2008 7:12pm Apr 15, 2008 7:12pm
trader101,
you're doing a great job : my task here is to learn from you and to share with others what i learn....hopefully make some pips in the process as well.


i'm not too clear on the market at the moment...
this is what i have as of now :

hope this helps,
CJ.-
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  • #2,499
  • Apr 15, 2008 7:30pm Apr 15, 2008 7:30pm
On a Tuesday night like this (actually considered wed by most broker server) the rollover day. It is the day when the the currency gravitates to a higher interest rate one. meaning GBPjpy will normally go Long. That goes for its friends and colleagues. Sometimes the Uchf comes with it. If the cpairs has a postive swap then it normally will go long. Negative swap will go short. Well not all the time but most of the time. But i ntoice that after collecting the swap at wed(5:00 NY time) they tend to reverse the direction. What i normally do is leave collect my pips at 4:45 before getiing the swap. Some call me nuts, but i just like it that way. Leave before everyone else leaves.
  • #2,500
  • Apr 15, 2008 7:34pm Apr 15, 2008 7:34pm
Since we are basket trading, if you Long on all currency pair with pos swap ans short on negative swap from now till tommorrow, you will have a postive profit. Just check the swap rate and go with it. Positive swap go long , negative swap go short.
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