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Weekly Gbpjpy Breakout System

  • #461
  • Jul 1, 2008 9:52am Jul 1, 2008 9:52am
This pair has been moving like a drunk snake for the last two weeks.
  • #462
  • Jul 1, 2008 10:34am Jul 1, 2008 10:34am
Quoting billbss
This pair has been moving like a drunk snake for the last two weeks.
This week, for the time being, it seems stuck between the weekly central pivot and the monthly central pivot.
Hi, my name is Barry and you can keep your doctor...
  • #463
  • Jul 1, 2008 10:37am Jul 1, 2008 10:37am
Quoting cisco
This week, for the time being, it seems stuck between the weekly central pivot and the monthly central pivot.
I don't like to predict what it's going to do, but I'm afraid it's going to just waste time, and ramble around, waiting for Friday and NFP.
  • #464
  • Jul 1, 2008 11:59am Jul 1, 2008 11:59am
Please be aware that Non Farm Payroll will be on Thursday this week because of the Holiday on Friday.
  • #465
  • Jul 1, 2008 12:02pm Jul 1, 2008 12:02pm
Quoting Rainer
Please be aware that Non Farm Payroll will be on Thursday this week because of the Holiday on Friday.
Thanks. I didn't realize that.
  • #466
  • Jul 1, 2008 2:41pm Jul 1, 2008 2:41pm
Riding all day in a loss. Went down to 210.03 then retaced. There is still hope in this breakout to breakeven this evening.

Good luck.
  • #467
  • Jul 1, 2008 2:47pm Jul 1, 2008 2:47pm
Quoting smurf
Riding all day in a loss. Went down to 210.03 then retaced. There is still hope in this breakout to breakeven this evening.

Good luck.
It's unpredictable. It's closer to a SL than the TP, but nobody can predict the thing. It's just rambling this week.
  • #468
  • Jul 1, 2008 3:04pm Jul 1, 2008 3:04pm
Quoting smurf
Riding all day in a loss. Went down to 210.03 then retaced. There is still hope in this breakout to breakeven this evening.

Good luck.

COMMENT MEANT FOR THE DAILY.
  • #469
  • Jul 5, 2008 6:37am Jul 5, 2008 6:37am
Can anyone please place the buy and sell entry orders for the coming week?
  • #470
  • Jul 5, 2008 9:02am Jul 5, 2008 9:02am
Quoting pino2
Can anyone please place the buy and sell entry orders for the coming week?
BUY STOP = 212.09
SL = 210.98
TP = 213.2

SELL STOP = 210.98
SL = 212.09
TP = 209.87


Since Jan.1

Each trade = 2% of account.

23 W- 7.5 L

That is an increase of 35.8% of starting account (including compounding)
  • #471
  • Jul 7, 2008 2:18pm Jul 7, 2008 2:18pm
Oh well, this week looks like a looser again... I'm stopped out with my long trade and now the short is -90 pips...

Jan
  • #472
  • Jul 7, 2008 2:24pm Jul 7, 2008 2:24pm
Quoting jtimm
Oh well, this week looks like a looser again... I'm stopped out with my long trade and now the short is -90 pips...

Jan
this damn dragon should make a breakout of this over extended sleep soon and start to trend again, for gods sake. but its soo costly to wait for that breakout. I still have confidence in this strategy, it worked well until 2 weeks ago.
We leave no soldier behind.
  • #473
  • Jul 7, 2008 2:29pm Jul 7, 2008 2:29pm
Quoting jtimm
Oh well, this week looks like a looser again... I'm stopped out with my long trade and now the short is -90 pips...

Jan
Its looking that way.

I was looking back and the last losses were in April.

March 30- double stop out
April 6 - Win
April 13 - Double stop out.

That was all since Jan.1 until the last three weeks.

Those losses in March and April accounted for a 6% drawdown.

If we get stopped out this trade, it will be a 12% drawdown.

That isn't much as far as systems go- most profitable methods will have at least a 20% drawdown.

I had previously decided that I would suspend trading this system for awhile if it dipped below 12%.

If we get stopped out this trade, and the first trade of next week, then I'm going to sit on the sidelines for awhile.

I'll wait until it gets back to the 6% range, to start trading it again.
  • #474
  • Jul 9, 2008 11:05am Jul 9, 2008 11:05am
To all those who do not want to see. Be prepare for the drawdown.
  • #475
  • Jul 12, 2008 7:32am Jul 12, 2008 7:32am
Can anyone please post the buy and sell entry orders for the coming week?
  • #476
  • Jul 13, 2008 9:05am Jul 13, 2008 9:05am
Lasr 2 4H bars:

High=211.82
Low =210.46

Buy stop = 211.82+1+9 = 211.92

Sell stop = 210.46 - 1 = 210.45

Buy stop - Sell stop = 147 pips


Buy stop = 211.92
SL = 210.45
TP = 213.39

Sell Stop = 210.45
SL = 211.92
TP = 208.98

Am I right?
Failure is a feedback. Learn from it.
  • #477
  • Jul 13, 2008 9:08am Jul 13, 2008 9:08am
Quoting tomomi72003
Lasr 2 4H bars:

High=211.82
Low =210.46

Buy stop = 211.82+1+9 = 211.92

Sell stop = 210.46 - 1 = 210.45

Buy stop - Sell stop = 147 pips


Buy stop = 211.92
SL = 210.45
TP = 213.39

Sell Stop = 210.45
SL = 211.92
TP = 208.98

Am I right?
I haven't looked at NF's 4H bars yet.
If you're correct about them, the rest of it is right.
  • #478
  • Jul 13, 2008 3:50pm Jul 13, 2008 3:50pm
High=211.83
Low =210.48

Buy stop = 211.83+1+9 = 211.93

Sell stop = 210.48 - 1 = 210.47

Buy stop - Sell stop = 146 pips


Buy stop = 211.93
SL = 210.47
TP = 213.39

Sell Stop = 210.47
SL = 211.93
TP = 209.01
  • #479
  • Jul 15, 2008 6:43am Jul 15, 2008 6:43am
buy hit SL... hmmm.. again.. so bill, what next?? break for couple weeks?? wait for trend?
Veni, vidi, vici...
  • #480
  • Jul 15, 2008 7:00am Jul 15, 2008 7:00am
Quoting sikacek
buy hit SL... hmmm.. again.. so bill, what next?? break for couple weeks?? wait for trend?
Yep.
That's a 14% drawdown since these loses started.
That was my cutoff point.
I'll start trading it again if it recovers back to a -6%.
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