GBP / USD Intraday Strategy | Forex Factory

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GBP / USD Intraday Strategy

  • #1
  • First Post: Jan 24, 2007 1:02am Jan 24, 2007 1:02am
GBP/USD
Short @ 1.9765
  • #2
  • Jan 24, 2007 1:22am Jan 24, 2007 1:22am
We are starting a new thread based on our GBP/USD Intraday strategy. We just went short at 1.9766 with a stop at 1.9859.

These trades are being traded in several live accounts since October of 06... I've included our current time scaled equity curve and also some stats on our trades.
Attached Images
  • #3
  • Jan 24, 2007 1:51am Jan 24, 2007 1:51am
Also, for those who are interested I am attaching an excel spreadsheet of all of our trades since Oct 06.
Attached File(s)
File Type: zip Trades List.zip   7 KB | 982 downloads
  • #4
  • Jan 24, 2007 2:28am Jan 24, 2007 2:28am
Suppose you cant complain at that over 700 pips in under 4 months
  • #5
  • Jan 24, 2007 2:41am Jan 24, 2007 2:41am
Quoting fxjournals
We are starting a new thread based on our GBP/USD Intraday strategy. We just went short at 1.9766 with a stop at 1.9859.

These trades are being traded in several live accounts since October of 06... I've included our current time scaled equity curve and also some stats on our trades.
I am short GBP/USD since 1.9823 and was just wondering what your TP is.
  • #6
  • Jan 24, 2007 3:12am Jan 24, 2007 3:12am
Quoting moonchild
I am short GBP/USD since 1.9823 and was just wondering what your TP is.
Moonchild, currently we do not have a target yet for this trade (it has to develop further). But if this trade is successful, we believe that the GBP/USD will go lower than 1.9714.
  • #7
  • Jan 24, 2007 3:16am Jan 24, 2007 3:16am
You have really made some ground here of late did you change your strategy and what is it if you do not mind me asking?
  • #8
  • Jan 24, 2007 3:22am Jan 24, 2007 3:22am
Quoting goodthings
You have really made some ground here of late did you change your strategy and what is it if you do not mind me asking?
Goodthings, we haven't changed the strategy, at first we made some mistakes, but now that we've been trading for a while we are making less errors. The system is a combination of many things painfully learned over the years.
  • #9
  • Jan 24, 2007 3:23am Jan 24, 2007 3:23am
Quoting fxjournals
Moonchild, currently we do not have a target yet for this trade (it has to develop further). But if this trade is successful, we believe that the GBP/USD will go lower than 1.9714.
I see that you have the same problem I have. I have a trade with a SL but no TP as yet. I had been thinking of around 9680, more or less, but that is not definite yet. I thought that someone else might have insight I do not have.
  • #10
  • Jan 24, 2007 10:50am Jan 24, 2007 10:50am
Close: @ 1.9666
Profit: 99 pips
  • #11
  • Jan 24, 2007 10:59am Jan 24, 2007 10:59am
Just to recap from above...

Short @ 1.9765
Short Exit @ 1.9666
Profit: 99 pips

Here's the current equity curve:

http://www.fxjournals.com/images/ss/...-1-24-07-2.bmp
  • #12
  • Jan 25, 2007 2:11am Jan 25, 2007 2:11am
As expected, GBPUSD broke above previous high resistance at 1.9846, further rise towards 2.0000 to reach the next cycle top on daily chart is still possible in the next several days. Near term support is at 1.9630, only break below this level may delay the resumption of the up trend. For long term analysis, GBPUSD will rise above 2.0000 to reach the next cycle top on weekly chart, and the next cycle top will appear next month.
If I Go Broke Trying Then I Will die happy.
  • #13
  • Jan 25, 2007 10:05am Jan 25, 2007 10:05am
Entered Long @ 1.9711
  • #14
  • Jan 25, 2007 10:11am Jan 25, 2007 10:11am
Quoting fxjournals
Entered Long @ 1.9711
Stop @ 1.9610
  • #15
  • Edited 2:44am Jan 26, 2007 2:31am | Edited 2:44am
Stopped Out @ 1.9610
Loss: 101 pips
-------------


Correction, not stopped out yet, but came close (price never hit 1.9610)
  • #16
  • Jan 26, 2007 2:57am Jan 26, 2007 2:57am
Hello:

Is there an area to actually view the particulars with this strategy?

thx
  • #17
  • Jan 26, 2007 4:55am Jan 26, 2007 4:55am
Now I was stopped out @ 1.9610
Loss of 100 pips
  • #18
  • Jan 26, 2007 5:22am Jan 26, 2007 5:22am
Long Again @ 1.9600
Stop @ 1.9513
  • #19
  • Jan 27, 2007 3:36am Jan 27, 2007 3:36am
Below is a recap of the trades that were closed out this...
  • #20
  • Edited 3:52am Jan 27, 2007 3:47am | Edited 3:52am
Entered Long 1/12/07 11:05 @ 1.9596
Exited Long 1/24/07 2:00 @1.9766
Profit: 170 pips
Negative Swing: 37 pips (amount in pips the market went against the trade)
Current Drawdown: 0
Current Equity: 757 pips

Here is what the trade looks like on the chart
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