EOD trading system

Hi,
can this method be applied to all forex pairs ? Or just some particular ones ?

Try adding the EOD indicator and see for yourself... some pairs, EURDKK for example, is a real ranger.
Paulus trades twelve pairs mentioned somewhere in the thread.

Not a Paulus pair, but taking a trade at EURNZD showing a continuation of an uptrend.
EOD shown at ActivTrades(GMT+2).

What do you think?

Hi DramaKing,

Here's the definition for the wedge formation from Investopedia. The red text gives the classic def.

My personal opinion is that we are seeing a continuation of the uptrend on the daily chart on that pair. (See chart.)

But, of course, I could be wrong...

Have a great holiday season,
PistolDave

=========================


What Does Wedge Mean?
A technical chart pattern composed of two converging lines connecting a series of peaks and troughs.

http://i.investopedia.com/inv/dictio...llingwedge.gif

http://i.investopedia.com/inv/092009...y/inv_icon.jpg

Investopedia explains Wedge...
Falling wedges indicate temporary interruptions of upward price rallies. Rising wedges indicate interruptions of a falling price trend. Technical analysts see a 'breakout' of this wedge pattern as either bullish (on a breakout above the upper line) or bearish (on a breakout below the lower line).

Your so right hehe.. edited my post.
Happy holidays!

nice to see the thread going well,

The system is doing well but having a rough time here such is life keep on going ......

Paulus

How long have you been using this system Paulus?

My FXDD MT platform is giving a long signal on this pair.

With approx. 9 hrs. to close of the daily candle, this pair could be a good candidate for a buy. Anyone agree?

EURJPY gave a signal yesterday on ActivTrades(GMT+2). I didn't take it because I was uncertain if it was ranging or not.

No trade, no loss!

But it's a signal alright. Also EURCAD is giving a signal that I'll look into later tonight.

I took the trade for the long signal on EURJPY, also EURAUD gave me the same signal.

Merry Christmas, and happy new year to all.

USDCAD is on... (ActivTrades GMT+2)

Status: The GBPYJPY from Dec 17th went to TP. Yesterdays EURNZD is 70% towards TP.

Last trades?

Opening hours in CET, to whom it may consern:
24 December CLOSE 19.00
25 December CLOSED
26 December OPEN 08.00

31 December CLOSE 19.00
01 January CLOSED
02 January OPEN 08.00

Merry christmas to you all!! And don't forget to relax

This is some really great stuff I almost read every page in the thread, I somewhat new to fx trading and dont have much time to spend day trading short term trends. I hope to contribute to this strategy as i adopt it. Thanks Paulus and everyone else!!!

Hi

I will be updating my spread sheets over the Xmas break to give latest stats etc

Im glad every one is enjoying the system,its holding up quite well

When the market moves sideways daily bars normally shrink as ranges get tighter this will hopefully reflect in the smaller ATR over the last 5 days before a signal in those conditions..

MM is the key to survival in any system

Good luck

Paulus

I wanted to wish everyone here a blessed and safe holiday season -- and a very profitable new year.

I'm going with a very light load on any trades I take from now until after the New Year holiday.

On the shorter timeframes it's nothing but ranging and whipsaws.

Paulus -- a special thanks to you for introducing your system to us.

Most important to preserve your capital and live to fight another day.

Best wishes,
PistolDave

Hello everyone. I have been away for the last 10 days or so and without an internet connection because of an technical issue. (found out that they hooked up the internet to the neighbour's house instead)

I was taking a quick Look back at the eod indicator, it looks like I would have been somewhere around 9 wins and 2 losses for that period with this system. Oh well, there will be more opportunities soon.

My EOD trades status for today 12/29

open date pair price stop target status
12/12 CadJpy 72.75 75.70 70.47 open in loss
12/17 G/J 135.61 139.28 131.81 closed at TP
12/18 AudJpy 60.55 63.64 58.22 open in loss
12/19 AudNzd 1.1896 1.1648 1.2129 open in profit
12/23 UsdCad 1.2162 1.2259 1.1897 open at even
12/23 EurAud 2.0491 2.0240 2.0987 open in loss
12/26 NzdUsd .5793 .5647 .5900 open in profit
12/26 AudCad .8385 .8203 .8535 open in profit
12/26 EurCad 1.7174 1.6743 1.7511 open in profit
12/26 UsdJpy 90.54 91.08 89.54 open in profit
12/26 EurUsd 1.4052 1.3904 1.4261 closed at TP
12/26 UsdChf 1.0688 1.1141 1.0496 closed at TP
12/26 AudUsd .6864 .6747 .6960 closed at TP


These are on FXDD

This looks promising
What TimeZone is FXDD in?

FXDD is GMT+2

Hi All

I am continuing my backtesting to try and break the basic system. However I have failed to break it so far and have had good results from this year so far. I am convinced that the retracements occur on almost every signal and so should be utilised to maximise the system.

I have been looking at the retracement entry and it certainly helps with reducing the losses and maximizing the profits. You miss a couple of trades per year with each pair but that is offset by the better performance.

It also helps because I can place the orders and just leave things alone, without hovering over the computer and stressing as things retrace.

The retracement entries that I use are the following:

EJ 30
EU 35
GCHF 30
GJ 50
GU 50
NU 20
UCHF 20
UJ 40

The benefit of these small changes have a massive effect at the end of the year once compounding takes effect. Improves the performance by up about 75% per pair over the year.

I will try and attach my spreadsheet results at some stage.

Mister ED