Here is the weak GBP/CHF short trade signal chart to which I was referring in the above post. Notice how short the red bars are, especially on the stoch histogram. With this system these weak bars can/will sometimes change from red to green during the first hour or so of trading. Even though I may miss pips by getting in the trade later, I prefer to wait till the color gets stronger and stabilizes.
No valid signals tonite....as of yet. The U/J could later develope into a valid long. At this time has strong green AO and price is just above 200 SMA. Stoch is green but almost takes a microscope to see it, so won't take it at this time. Will continue to watch this pair for a while and will post here if I enter the trade.
Both AUD/USD and AUD/CAD from yesterday quickly closed out first positions for +50 pips each. Then not long afterward, the second positions on both hit breakeven SL....total +100 pips for the two trades.
Good week....total +250 pips....have a great weekend!
Grpip
could you put the results since you begin their pursuit until today please
your statements
muchas gracias
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Due to computer problem I only have results from August 22. At that time I opened another $500 ODL demo account. As of closing session yesterday, Sept. 19, account balance at $1354.65. Not bad for one month!
Both these trades have fairly strong AO and Stochs.
There is a weak short signal on the GBP/CHF....take it if you want, but I prefer to watch and wait a while on this one to see if the red AO/Stoch bars get stronger or maybe even change color and reverse. If the bars get stronger later, then I will probably take a chance. Good luck!
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Hi man!
I'm curious how did you enter the trade AUD/USD SHORT at price 0.7921.
The opening price is 0.7894 and if you took that price short the market reached only as law as 0.7863 before turning around and becoming a -100 pips loss trade. your AO candle became red after the price moved up from opening to 0.7921 and then you enetered? that sounds strange. plz explain it .
Something i dont understand about risk management here. the man who published this system said to close the first one +50 pips and second +100 pips but the next post he said he has some big winners until AO changes colors . so i dont understand what about the second trade, close it +100 or let it run. i think what makes this system really profitable is those big winners otherwise the R/R ratio is not good at all , not even 1:1. so can someone tell me what did the author meant here?
Hi man!
I'm curious how did you enter the trade AUD/USD SHORT at price 0.7921.
The opening price is 0.7894 and if you took that price short the market reached only as law as 0.7863 before turning around and becoming a -100 pips loss trade. your AO candle became red after the price moved up from opening to 0.7921 and then you enetered? that sounds strange. plz explain it .
Something i dont understand about risk management here. the man who published this system said to close the first one +50 pips and second +100 pips but the next post he said he has some big winners until AO changes colors . so i dont understand what about the second trade, close it +100 or let it run. i think what makes this system really profitable is those big winners otherwise the R/R ratio is not good at all , not even 1:1. so can someone tell me what did the author meant here?
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Hunter....first of all, you have to understand that I'm almost a complete novice to forex trading. To be perfectly honest, I really don't know how I got in that A/U short trade. If I hadn't screwed up my ODL Account History today....wiped it out completely....I could show you that I actually made that trade. Sorry!
As for your second question, when Bull101 first started this thread, when the trades reached +50 pips, he closed the 1st trade, moved the SL on both trades to breakeven, then just let the 2nd position run until either the Stoch or AO changed color. Then after some bad loses, he came up with the plan to limit the 2nd trade TP to +100 pips. He did always specify to risk only 3% of balance on any trade. If any experienced traders here think we can again safely let the 2nd trade run till a bar changes color, I'll be glad to again try trading like that. Anyone got an opinion?
Don't know what's going on with the forex market, but there are no valid signals again tonite....none so far this week! Anyone have a clue as to why?
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it's not surprising because we are after 2 months of strong trend for the dollar. last week was very weak for the dollar but still he is above the 200 sma against all the other currencies. so we will have to wait for the trend to continue or ths price to cross the sma
This week is a total bust....no valid signals tonite....none for the week! Until this financial crisis has some sort of resolution, don't think the currency market is going to move much. Have a great weekend....we'll worry more about forex next week!
This week is a total bust....no valid signals tonite....none for the week! Until this financial crisis has some sort of resolution, don't think the currency market is going to move much.
Have a great weekend....we'll worry more about forex next week!
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Hi GRPip,
Thank you, have a nice weekend you too. Next week will be better week for us.
