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Simplicity is the Key

  • #561
  • Feb 15, 2007 12:14pm Feb 15, 2007 12:14pm
Trade #17
Sell EUR/USD@ 1.3129
SL 25 +spread
TP --TBA
  • #562
  • Feb 15, 2007 12:41pm Feb 15, 2007 12:41pm
OPEN TRADES
TRADE #16 S-GBP/USD Currently +29
TRADE #17 S-EUR/USD Currently -6
  • #563
  • Feb 15, 2007 3:10pm Feb 15, 2007 3:10pm
OPEN TRADES

TRADE #16 S-GBP/USD Currently +27


TRADE #17 S-EUR/USD Currently -17
Increase SL to 30+spread
New SL 1.3162
  • #564
  • Feb 15, 2007 3:42pm Feb 15, 2007 3:42pm
Keep in mind that all MAs and the RSI are all lagging indicators. This makes them look like they work much better when backtesting after the fact becuase they don't look the same when the candles have already closed as they look when they are forming. I recommend getting a backtester that shows the candles as they form, if you don't have one already.
  • #565
  • Edited 4:07pm Feb 15, 2007 3:45pm | Edited 4:07pm
OPEN TRADES


TRADE #16 S-GBP/USD Currently +44
Raise SL to BE
TP @1.9487 (70 pips)


TRADE #17 S-EUR/USD Currently -15
Increase SL to 30+spread
New SL 1.3162
TP @1.3079 (50pips)
  • #566
  • Feb 15, 2007 3:48pm Feb 15, 2007 3:48pm
Quoting hikerbiker25
Keep in mind that all MAs and the RSI are all lagging indicators. This makes them look like they work much better when backtesting after the fact becuase they don't look the same when the candles have already closed as they look when they are forming. I recommend getting a backtester that shows the candles as they form, if you don't have one already. Good Luck, and don't give up. It will take a lot more than two trades to know if a system is working. You need at least 25, probably more to know a reliable win/loss percentage.
Thank you, sir for your advice..I will remember that.
Regards..
  • #567
  • Feb 15, 2007 4:34pm Feb 15, 2007 4:34pm
If you trade with me on Trade #16 & 17..
You have to keep a close watch on EU. The GU is a winner.
I will leave these trades overnight and will check them regularly, i suggest you do the same if you are going someplace.
See you @22:00 EST.
  • #568
  • Feb 15, 2007 11:40pm Feb 15, 2007 11:40pm
Close Trade #16
Gain +25
  • #569
  • Edited Feb 16, 2007 12:21am Feb 15, 2007 11:53pm | Edited Feb 16, 2007 12:21am
Important Reminder to those who visited this thread:

This thread was created for the purpose of testing a system which i formulated. I made the call of the trade that Iam making for the purpose of me having the record of all the trades i will be having. If you plan to drop by and read what trade i did made, or help me monitor this testing process i would greatly appreciate it.

On the other hand, i would greatly discourage you to voicing your caution,opinion and trying to call your own trade in this thread. Your trade will never influence the procedure that this system was created, you maybe right, and i maybe wrong, still i have to execute the trade as called by the system without any influence from anybody. If you still can prevent yourself from calling your trade, I suggest you start your own thread. It is free.

Thanks and Regards,
  • #570
  • Feb 15, 2007 11:56pm Feb 15, 2007 11:56pm
UPDATE FOR THIS WEEK
CLOSED TRADES 1 lot trades
Trade #1 Closed Gain +5 (in pips)
Trade #2 Closed gain +5
Trade #3 Closed Loss -20
Trade #4 Closed Loss -3
Trade #5 Closed Gain +20
Trade #6 Closed Gain +6
Trade #7 Closed Gain +24
Trade #8 Closed Gain +3
Trade #9 Closed Gain +35
Trade #10 Closed Gain +15
Trade #11 Closed Loss -20
Trade #12 Closed Gain +5
Trade #13 Closed Loss -25
Trade #14 Closed Gain +17
Trade #15 Closed Loss -34
Trade #16 Closed Gain +25
-----------------------------------
NET P/L(this week) + 58
------------------------------
NET P/L(last week) + 187
------------------------------
NET P/L(WE 2-2-07)+ 108
-----------------------------------
OPEN TRADES
Trade #17 S-EUR/USD Currently -7
  • #571
  • Feb 16, 2007 5:03am Feb 16, 2007 5:03am
Those who traded with me on TRADE NO. 16 and was sleeping last night and didnot bother to check their open position mybig congratulations.. You are now 70 pips up..Not like myself, i bother to check my open pos last night so here i am again, angry of myself for closing it last night for a measly gain of +25 pips. The 70 pips was our initial TP and is now hit but YOU COULD STILL LEAVE IT FOR NOW. The trend is still on-going and perhaps still capable of giving 30 pips more for a cool 100 or you can relax and closed it now.

OPEN TRADES
TRade #17 S-EUR/USD Currently +16
  • #572
  • Feb 16, 2007 5:08am Feb 16, 2007 5:08am
I left it on, so thanks very much - really appreciated.. Unfortunately, I also had a buy (from 1.9679) which I didn't put a s/l on so I'm well in the red on that one!

Take care, Jacquie
  • #573
  • Feb 16, 2007 5:44am Feb 16, 2007 5:44am
Quoting MrsMacTheKnife
I left it on, so thanks very much - really appreciated.. Unfortunately, I also had a buy (from 1.9679) which I didn't put a s/l on so I'm well in the red on that one!

Take care, Jacquie
Jacquie --
You can still have good run up to before 8:30EST. There is a news report coming out 8:30 which might affect this trade, that is the best time to put that hedge. For now i suggest you close the hedge.
  • #574
  • Feb 16, 2007 5:52am Feb 16, 2007 5:52am
Thanks for the advice, good luck for today...

Jacquie
  • #575
  • Feb 16, 2007 6:47am Feb 16, 2007 6:47am
Close Trade #17
Gain +18
  • #576
  • Feb 16, 2007 6:49am Feb 16, 2007 6:49am
UPDATE FOR THIS WEEK
CLOSED TRADES 1 lot trades
Trade #1 Closed Gain +5 (in pips)
Trade #2 Closed gain +5
Trade #3 Closed Loss -20
Trade #4 Closed Loss -3
Trade #5 Closed Gain +20
Trade #6 Closed Gain +6
Trade #7 Closed Gain +24
Trade #8 Closed Gain +3
Trade #9 Closed Gain +35
Trade #10 Closed Gain +15
Trade #11 Closed Loss -20
Trade #12 Closed Gain +5
Trade #13 Closed Loss -25
Trade #14 Closed Gain +17
Trade #15 Closed Loss -34
Trade #16 Closed Gain +25
Trade #17 Closed Gain +18
-----------------------------------
NET P/L(this week) + 76
------------------------------
NET P/L(last week) + 187
------------------------------
NET P/L(WE 2-2-07)+ 108
-----------------------------------
OPEN TRADES
None
  • #577
  • Feb 16, 2007 6:53am Feb 16, 2007 6:53am
  •  aghast
  • | Joined Jun 2006 | Status: Fixed Income & Currencies Trader | 58 Posts
Quoting trader101
Hi Traders,
I am new in trading, and i think i stumble into a trading system that will be a consistent winner. Tested this system for 2006 past chart records, and not a single week it was a loser. I was amazed myself and so excited to start a thread on this forum. I am not ready to go public about this system yet, however, I will be using a 15 minute chart by Accuchart and i will only be trading EUR/USD. I will publish the trade that i will be taking, but unlike the other trade call on the entry price, i will be calling the trade between 5 to 15 minutes before i make the trade at the same time i will publish it here. Meaning 1-15minute candle before i enter the trade, so for those who want to monitor this trade to have a basis.
Starting the of week 28 Jan - 2 Feb, my trades will be publish here.
Sample of how i will cal the trade:

TRADE #1
---Buy EUR/USD at the beginning of 10:45am candle(Market price)
(S/L is always 20)
(TP - i will call it also between 5 to 15 minutes before, or you can use your
judgement how much profit you need, because most of the time
it will be a winning trade, myself personally i would like it to be always 50
pips, if possible)
Wish me luck
I can guarantee you that you'll loose more than you get and really quickly. 20 stop loss before news times? That's not normal. The pair will swing a lot before that and most of the times you'll be kicked out of the market with this stop loss.
Fortune always favors the brave.
  • #578
  • Feb 16, 2007 7:50am Feb 16, 2007 7:50am
Quoting aghast
I can guarantee you that you'll loose more than you get and really quickly. 20 stop loss before news times? That's not normal. The pair will swing a lot before that and most of the times you'll be kicked out of the market with this stop loss.
Thank you for your concern, Sir..
Just like you i also plan my trades, and perhaps like you, i am a news trader too.. before i started being a swing trader. And i am fully aware, sir, of the volatility of the news report. When i say 20 SL i never mentioned putting trades before the news report unless you have some insider information. Fortunately, i was able to trade around the news and for the past 3 weeks my record was showing that it is possible to trade around it and maintaining 20 - 25 pips SL. I was hit once my trade #15 for this week because that report was not heavily published but its all part of trading. I would greatly appreciate if you read further on the thread how i tried to avoid the news.
Again, thank you very much sir, for that piece of advice..
Regards
  • #579
  • Feb 16, 2007 8:28am Feb 16, 2007 8:28am
Trade #18
Buy USD/CHF@ 1.2378
SL 25 +spread
TP --TBA
  • #580
  • Feb 16, 2007 8:31am Feb 16, 2007 8:31am
Quoting trader101
Trade #18
Buy USD/CHF@ 1.2378
SL 25 +spread
TP --TBA
Change SL to 20 (1.2358) -- Trying to Scalp a few pips here.
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