My New System Based On Price Aciton | Forex Factory

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My New System Based On Price Aciton

  • #1
  • First Post: Feb 4, 2007 9:48am Feb 4, 2007 9:48am
This will be on all pairs generated at close of each daily bar and tp will also be determined then as well:
long on nzdusd at 6800
stop 6600

sell audnzd at open
sl 1.1506
  • #2
  • Edited 5:34pm Feb 4, 2007 10:20am | Edited 5:34pm
gbpjpy short at open
stop at 238.91
  • #3
  • Feb 4, 2007 5:36pm Feb 4, 2007 5:36pm
eur/chf buy
stop loss 6113


eur/usd buy
stop loss 2850

usd/jpy sell
stop loss 122.74

usd/cad sell
stop loss 1.1943


eur/gbp

stop loss 6551
  • #4
  • Feb 4, 2007 6:45pm Feb 4, 2007 6:45pm
Is this price action system instead of or in addition to your Elliott Wave system? Are you working toward a way of blending the two perhaps?
  • #5
  • Feb 4, 2007 6:58pm Feb 4, 2007 6:58pm
As you know, My first love is EWT I trade and study wave formations religiously, so to answer your question yes and no. I plan to use EWT for direction for possible RR but other than that, this is entirely a new system apart from EWT like some of the trades tonight are not in the direction of my EWT trades we shall see how its plays out.

Quoting moonchild
Is this price action system instead of or in addition to your Elliott Wave system? Are you working toward a way of blending the two perhaps?
  • #6
  • Feb 5, 2007 9:14am Feb 5, 2007 9:14am
what is the purpose of your thread?
  • #7
  • Feb 5, 2007 4:47pm Feb 5, 2007 4:47pm
Hello Emeric, the purpose of my journal is to see how well I can trade on a daily basis instead of waiting out a whole wave, although it will be some periods where i will stay in the trade pending the count. Ex. would be the C wave we are in now on the cable, C waves have 5 mini waves what if i could trade each mini wave in accordance to time and price action. So far all trades listed at yesterday's open are up i believe, at least they were the last time i looked with the exception of eurchf which got stopped out. I hope this answers your questions. If any new developments will update later 8pm est.
Quoting emeric33
what is the purpose of your thread?
  • #8
  • Feb 5, 2007 5:29pm Feb 5, 2007 5:29pm
Quoting fixme1too
Hello Emeric, the purpose of my journal is to see how well I can trade on a daily basis instead of waiting out a whole wave, although it will be some periods where i will stay in the trade pending the count. Ex. would be the C wave we are in now on the cable, C waves have 5 mini waves what if i could trade each mini wave in accordance to time and price action. So far all trades listed at yesterday's open are up i believe, at least they were the last time i looked with the exception of eurchf which got stopped out. I hope this answers your questions. If any new developments will update later 8pm est.
You may want to ask a moderator to move this to the Journal Factory since this is not a system your sharing.

Happy Trading!
  • #9
  • Feb 5, 2007 6:59pm Feb 5, 2007 6:59pm
wow dude. I always share. The system is based on price action I cant describe it man just candle sticks and price action.
  • #10
  • Edited 7:12pm Feb 5, 2007 7:00pm | Edited 7:12pm
new signals
buy now gbp/yen, and usd/jpy
also my eurchf trade did not get stopped like I thought so still in a buy
but getting strong buy on cable and gbp/yen
Im new to gbpyen so I am still getting a feel for where to put stops based on EWT the buy on g/y should be at 234.74
and buy on cable should be 1.9555 stops will be 1to1 RR looking for 9800's on cable if using EWT price action may determine when to tp earlier than the 9800's
  • #11
  • Feb 5, 2007 7:30pm Feb 5, 2007 7:30pm

.

.
Quoting WHTenn
You may want to ask a moderator to move this to the Journal Factory since this is not a system your sharing.

Happy Trading!
  • #12
  • Feb 5, 2007 7:45pm Feb 5, 2007 7:45pm
fixme1too,

Can you give the link to your system based on price action, or any reference to read and study it. The links are removed.

Thank you.

Lems ...
  • #13
  • Feb 5, 2007 8:25pm Feb 5, 2007 8:25pm
Quoting lemans
fixme1too,

Can you give the link to your system based on price action, or any reference to read and study it. The links are removed.

Thank you.

Lems ...
i think he is using candlestick formation, fibo.....without any indicator...i am also trading like this style nowadays
{Link Removed}]
  • #14
  • Feb 6, 2007 7:30am Feb 6, 2007 7:30am
Hi fixme1too,

Hope i can learn from you, looks like your one of the best i've ever seen around.

Looks like you got your internet back.
Still waters run deep
  • #15
  • Edited 8:00am Feb 6, 2007 7:40am | Edited 8:00am
update on trades

aud/nzd closed for 215 \pips

eur/chf closed for -66pips
gbp/jpy 1st trade closed for +230 pips time 1 day

usd/jpy closed for 90 pips time 1day

the main goal as I stated earlier is to enhance a system that allows shorter swing trades. I hate when im up 90 pips then go down more than half that. sometimes even on the negitive side when some of those profits could have been taken of the table. Example of this is getting in on a 1 wave then staying in on the retrace of the 2 wave. I know some are saying just get out at the end of the 1 wave. Problem here is 1 wave is not always that easy to predict the end of as in other waves. With this new system it appears, to allow me to trade each wave on a daily basis generating a new signal daily. This system is still in it's infancy and I am on demo with it but so far it appears to trade best on the pairs that move the most in 1 day and lucky for me that is the cable and gbp/jpy that I am new to so dont know how it trades but so far on tradeswith this system its 100% with no losses.
  • #16
  • Feb 6, 2007 8:42am Feb 6, 2007 8:42am
I am so glad to see you posting again. I will be following and I am certain - learning more from you. Great results - as usual.


Betsy
  • #17
  • Feb 6, 2007 6:56pm Feb 6, 2007 6:56pm
Fixme1too,
Your systems seems to be looking profitable. Do you plan to post your system any at all?
  • #18
  • Feb 6, 2007 7:17pm Feb 6, 2007 7:17pm
will post in next hour results from yesterday new signals look promising but this time I truly hope they fail Im in trades from EWT that im looking forward to closing.
  • #19
  • Feb 6, 2007 7:42pm Feb 6, 2007 7:42pm
ok well here we go.


USD/CHF LONG FROM 2400
Stop 2300

GBPUSD short from 9691 stop 9791


closed trades today gbpusd +75 pips
  • #20
  • Edited 8:23pm Feb 7, 2007 8:11pm | Edited 8:23pm
buy gbpchf 4464
stop 4364
short

euro at 3014 stop 3114

Im seeing major chance for short tomorrow on eur/usd and we are alread in a short on cable I think chance for down day tomorrow before we go up again for 9800's on friday

Hey keep in mind these trades are demo for me. Im testing a new system that has great potential thus far tommorow is thursday so trend has been set for most pairs now on the weekly time frame. The euro , swissy and cable trades went against the trend for the weekly trend I know this but as I said earlier Trying to devise a daily system where we dont ovetrade pairs jumping in and out all day and instead taking a postion at the begining of new bar if signal arises .
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