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AshFX Daily

  • #1,421
  • Jul 17, 2008 12:53am Jul 17, 2008 12:53am
question abt stoch. inside the templae we see 2 colours for stoch. May i know which cross is for sell and which cross is for buy?
  • #1,422
  • Jul 17, 2008 2:21am Jul 17, 2008 2:21am
Quoting PistolDave
No one answered this question I had from earlier:

About moving the SL to breakeven after the first TP is hit, I understand that. But what is the best way to proceed after that?

Is it best to leave it there until the AO changes color, (the exit price) or would it be safer to trail it down behind some level like the high (low) of the previous day's candle to lock in profits in the event that price makes a strong retracement against you?

For example, it could be possible expecially with volitile exotic crosses like GBPJPY to have moves of 500+ pip moves on the daily charts. Does it seem reasonable to leave the stop set at breakeven when the AO changes as slowly as it does?

How about it Ash?

Not criticizing the strategy, but just wondering if anyone has any thoughts on that idea.

Thanks.
Hi Dave,

Once first T/P is hit you have a number of options where to place your stop loss
1. when AO changes colour and then close at end of candle
2. nearest support or resistance points
3. nearest fib levels
4 nearest swing high or low

I suggest you google Baby Pips or any of the above and then get to understand what your money risk is to what you are prepared to lose to win in the end

By the way i would not trade GB/JP - too volatile for me

Paul
  • #1,423
  • Jul 17, 2008 2:39am Jul 17, 2008 2:39am
so whose aud/jpy short hit their SL today?

c'mon guys you can't just post when you win. that's too biased, making every system look good. you gotta post your losses too.
  • #1,424
  • Jul 17, 2008 2:46am Jul 17, 2008 2:46am
My SL hit
  • #1,425
  • Jul 17, 2008 2:48am Jul 17, 2008 2:48am
Is anyone keeping a record of the ashfx system? Like every trade taken based on its rules, with SL/TP by the rules too?
  • #1,426
  • Jul 17, 2008 2:49am Jul 17, 2008 2:49am
Aud/Jpy

I am still in and raised my stop loss 103.42
looking to see what happens at the fib 81.8% around the 103.00 mark

Anyone think thats a wise thing to do?
  • #1,427
  • Jul 17, 2008 3:07am Jul 17, 2008 3:07am
Quoting dengzhi
so whose aud/jpy short hit their SL today?

c'mon guys you can't just post when you win. that's too biased, making every system look good. you gotta post your losses too.
Yep, me too!

Question is - is this just one of those losing trades that are unavoidable (i.e. no system is perfect)? Or, with hindsight, can we deduce why this trade failed?

New to trading and this system, but looking back to the signal candle - could this be a hammer signalling rejection of a fall? Just a thought.
James The Beekeeper
  • #1,428
  • Jul 17, 2008 3:09am Jul 17, 2008 3:09am
AUD/JPY

If everybody has played by Ashs rules then we have all been stopped out.
but as he has said you cant win them all just move on.
  • #1,429
  • Jul 17, 2008 3:10am Jul 17, 2008 3:10am
Quoting Damon123
Is anyone keeping a record of the ashfx system? Like every trade taken based on its rules, with SL/TP by the rules too?
I am attempting to do this but only started last week so don't have any results just yet.

However, it would appear that the consensus is that just blindly following the signals would not provide a profitable system (see previous posts). Trader discretion is needed to avoid support and resistance, trend lines, fibs etc.
James The Beekeeper
  • #1,430
  • Jul 17, 2008 3:12am Jul 17, 2008 3:12am
Quoting logic38
Aud/Jpy

I am still in and raised my stop loss 103.42
looking to see what happens at the fib 81.8% around the 103.00 mark

Anyone think thats a wise thing to do?
Time will tell! 103.42 I guess is the last swing high which you are hoping provides resistance? Hope it does....good luck!
James The Beekeeper
  • #1,431
  • Jul 17, 2008 3:30am Jul 17, 2008 3:30am
Quoting edeyj999
Yep, me too!

Question is - is this just one of those losing trades that are unavoidable (i.e. no system is perfect)? Or, with hindsight, can we deduce why this trade failed?

New to trading and this system, but looking back to the signal candle - could this be a hammer signalling rejection of a fall? Just a thought.

That i disagree; if you look at the trend it has been ranging.I didn't personally pull that trigger because of this.
  • #1,432
  • Jul 17, 2008 3:49am Jul 17, 2008 3:49am
Quoting femzy112
That i disagree; if you look at the trend it has been ranging.I didn't personally pull that trigger because of this.
I see what you are saying. Looks like a range since 26 June for the past 3 weeks. Interesting that Ash has rejected possible trades recently due to ranging but took this one.

Ash - if you read this do you have any insights you could give use...thanks.
James The Beekeeper
  • #1,433
  • Jul 17, 2008 4:09am Jul 17, 2008 4:09am
yeah; i am glad you are seeing it now;

Good judgement calls are so so important in this art
  • #1,434
  • Jul 17, 2008 4:46am Jul 17, 2008 4:46am
Quoting fxykl
question abt stoch. inside the templae we see 2 colours for stoch. May i know which cross is for sell and which cross is for buy?
anyone like to help with this question?
  • #1,435
  • Jul 17, 2008 4:59am Jul 17, 2008 4:59am
The reason i didn't take the AudJpy short is it had bounced off the ascending trend line with a good Pin bar so I figured it would be going up before comming down. That trend line has been on my chart for sometime and when it touched it almost to the pip it showed as good support
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  • #1,436
  • Jul 17, 2008 5:02am Jul 17, 2008 5:02am
Quoting ljr
The reason i didn't take the AudJpy short is it had bounced off the ascending trend line with a good Pin bar so I figured it would be going up before comming down. That trend line has been on my chart for sometime and when it touched it almost to the pip it showed as good support
Excellent analysis, thanks. Just wish I had seen that before placing the trade!
James The Beekeeper
  • #1,437
  • Jul 17, 2008 6:59am Jul 17, 2008 6:59am
Yeh, how come I haven't thought about it? It was a big pin bar.
  • #1,438
  • Jul 17, 2008 8:36am Jul 17, 2008 8:36am
Quoting Damon123
My SL hit
Also my SL hit...
  • #1,439
  • Jul 17, 2008 8:47am Jul 17, 2008 8:47am
Quoting dengzhi
so whose aud/jpy short hit their SL today?

c'mon guys you can't just post when you win. that's too biased, making every system look good. you gotta post your losses too.
Yep, Sl hit .

But, you can't win them all .
I trade what I see on my charts. Do Not listen to the Muppets.
  • #1,440
  • Jul 17, 2008 8:48am Jul 17, 2008 8:48am
Well guys my Aud/Nzd hit the stop loss
and it looks like my Aud/jpy is going to hit my raised S/L at 103.42
I had a run of not picking winning trades of late!
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