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Great GBP/USD Strategy for Swing Trades

  • #401
  • Edited 9:46am Apr 12, 2007 9:36am | Edited 9:46am
Quoting Doji Star
The 13EMA just crossed the 50. I'm not waiting for the next candle...GOING IN!!
I'm using a Spread Trading platform, so my numbers will differ slightly from other platforms,the price I see on the charting system is +-56-60 points more than on my trading platform,cos the "spread provider" adds their own shading to maximise their profits, but I went short on USDCHF at 1.2119 just as that big red candle formed(just before 13EMA crossed the 50 ) and 1.2091 (when 13EMA did cross).SL was set at 50 pips on both.
Just when I thought I jumped the gun on this one,I scalped 32 pips on the first trade and I'm keeping the second trade alive.
Second trade currently up 17 pips.I'm hesitant to leave the trade 'til maturity as it were because I know this type of swing is meant for Cable.
Thus far,though, it looks as if VyNNer's strategy could work for other currency pairs, but it's difficult for me to say cos I usually trade in commodities AND I spread trade.The margin for error is great and I've become accustomed not to leave trades open overnight in this spread game...the leverage is too rich for my blood! This is one of the few forays I've taken into forex. VyNNer's strategy convinced me to try it again!!So far I'm not dissapointed.
Thanks again VyNNer!
Attached File(s)
File Type: doc USDCHF.doc   117 KB | 561 downloads
  • #402
  • Apr 12, 2007 4:22pm Apr 12, 2007 4:22pm
long? long on what mate? why are cryptic posts coming on here !

Quoting joelabu
anyone long now?....its a good setup now.. and stoch daily has crossed...
1 question...will monday still be bullish?
  • #403
  • Apr 12, 2007 4:27pm Apr 12, 2007 4:27pm
bugs, wld it be possible to post ur back tests? or at least which pairs you tested?

thanks

Quoting bugscoe
For me the long signal occured on 4/10 with the cross. I ignored the signal due to the daily stoch rule. However, that seems to have been a bad choice as this is turning out to be a nice trade. Much better the previous short signal I took, which was validated by the daily stoch, and resulted in a loss.

When I did my backtesting, I took every entry regardless of the daily stoch and still had great results. I'm thinking I may adopt that moving forward and perhaps take partial profits at certain points when the daily stoch is against my trade direction...?
  • #404
  • Apr 12, 2007 4:43pm Apr 12, 2007 4:43pm
Just so you know, these aren't the original system rules.

Quoting coolshades
long? long on what mate? why are cryptic posts coming on here !
Life is too short to have anything but delusional notions about yourself.
  • #405
  • Apr 12, 2007 11:48pm Apr 12, 2007 11:48pm
VyNNer's Swing Strategy well underway in USDCHF.Check out attached chart.

As for Cable, it looks like we'll have to be patient and wait for another set up.
Last valid long entry was on 10 April.Could be quite some time before the next entry.
Attached File(s)
File Type: doc USDCHF2.doc   150 KB | 586 downloads
  • #406
  • Apr 13, 2007 1:06am Apr 13, 2007 1:06am
Quoting Doji Star
VyNNer's Swing Strategy well underway in USDCHF.Check out attached chart.

As for Cable, it looks like we'll have to be patient and wait for another set up.
Last valid long entry was on 10 April.Could be quite some time before the next entry.
I have been reading this thread for some time now and actually took the last trade where a lost of 50 pips were recorded. Could you please explain as to why it was a long signal on 10 April, because my daily Sto was still pointing down?

Thanx

Eben
  • #407
  • Apr 13, 2007 1:30am Apr 13, 2007 1:30am
am aware hoss.. was wondering which pair that poster was mentioning long abt

Quoting hoss
Just so you know, these aren't the original system rules.
  • #408
  • Apr 13, 2007 2:13am Apr 13, 2007 2:13am
soooooo...... when the 4 & 13 EMA crossed 50 the other day, the daily stoch was not confirming long....

does this mean you enter when the daily stoch finally crosses to long if the 4/13 EMA on the 4 hour is still above the 50 EMA?

i did anyway, but whether you can comment from experience Vynner if this is standard practice for you or not, or whether it's too late in the move to be worthwhile?

i'm up 70 pips at the moment so it's looking good... not too far away now from a 12 month high though.
  • #409
  • Apr 13, 2007 2:37am Apr 13, 2007 2:37am
for those looking elsewhere the EUR/JPY looks like it's setting up.. worth a look monday.
  • #410
  • Apr 13, 2007 2:47am Apr 13, 2007 2:47am
It looks as if the u/j is about to cross. only waiting for the 13.Since i only took 1 trade with this system, could somebody please confirm that the setup is correct?

Thanx

Eben
  • #411
  • Apr 13, 2007 3:40am Apr 13, 2007 3:40am
Quoting Ebenst
It looks as if the u/j is about to cross. only waiting for the 13.Since i only took 1 trade with this system, could somebody please confirm that the setup is correct?

Thanx

Eben
I believe it is a correct set-up, however we have to wait for the close of the current 4h bar.

Vynner said he uses this method on GU only
Regards
  • #412
  • Apr 13, 2007 5:04am Apr 13, 2007 5:04am
Thanx for the reply. I am planning to trade other pairs on demo to try and determine their profitability with this system. I also only trade the g/u life

Eben
  • #413
  • Apr 13, 2007 5:55am Apr 13, 2007 5:55am
Hi Eben. Regarding the 10 April "signal":The last valid signal was to go short Cable. Thought the 10 April signal was valid to go long. my apologies, you're right. It had all the ingredients for this strategy but the daily filter wasn't o.k.4EMA and 13 EMA crossed on the 4hr.
Checked the 4hr chart only. Difficult to backtest the daily on the charting system available to me.



I only read about VyNNer's strategy two days ago and I've really been impressed with it so far.I've made my first trade with it yesterday and shorted the USDCHF and to my surprise scalped 32 pips on the first 4hr candle! The other short is still going.Trying to stick to ALL the rules this time. I'll see how that pans out.

Good luck with your trading.
  • #414
  • Apr 13, 2007 6:02am Apr 13, 2007 6:02am
H Doji Star. Well done on the USD/CHF. I took 40 pips of it on TEB63 system just to see it drop another 100 pips lol.

The only way to see if a strategy is successful is to stick to the rules, no matter what.

Good luck on the USD/CHF

Eben
  • #415
  • Edited 6:42am Apr 13, 2007 6:26am | Edited 6:42am
Quoting ryanmel
for those looking elsewhere the EUR/JPY looks like it's setting up.. worth a look monday.
Hi Ryanmel.
Thanks for the heads up.Will follow the EURUSD with interest next week.
I think the attached charts show that Ebenst and howard have hit the nail on the head when they said the USDJPY looks to be setting up nicely. I remember VyNNer talking about the ANGLE of the EMA crossings in an ealrier posting and this one looks as though it 'll cross at a good angle.

It might just be me and I'm no expert, but it might just be that the EURJPY 4EMA and 13EMA are too far from the 50?You think it'll get closer come next week? It looks to me like the upward trend in this pair is going to continue for a while.The daily stochs look close to unravelling a bit too. Ive learnt from more senior traders (someon this thread) that the stochs can stay in an oversold position for days even weeks in a trend.

Just thought it would be worth your while to have a look at the USDJPY as well.

Happy trading.
Attached File(s)
File Type: doc USDJPY vs EURJPY.doc   253 KB | 646 downloads
  • #416
  • Apr 13, 2007 6:38am Apr 13, 2007 6:38am
Quoting howard

Vynner said he uses this method on GU only
I hear you howard. That is why I've been more hesitant and quick to grab profits with any pair that's not Cable, but some of the set ups look really good (like the current USDJPY).

Has anyone backtested VyNNer's strategy on the Euro pairs?The success rate should be good there because I've noticed that the EURUSD and Cable move close together, not really in synch though,but close enough, they always follow the same trend. Only thing is Cable's moves are much bigger.
  • #417
  • Apr 13, 2007 6:45am Apr 13, 2007 6:45am
Doji Star. Yes, the STO can stay aversold/bought for quite some time.But it can also reverse just as fast. I used to trade the a strategy on 1 hour where i bought above oversbought and sold below oversold. After a few months i was back on b/e and stopped trading overbought/sold on STO.

I looked at the charts and the EUR/JPY might still be a good sell next week. When you look at the seperation between MA's it is basically the same as where the USD/JPY was. However, i dont think about this trade as anything can still happen.

The only reason why i looked at the USD/JPY is because all the rules except the last cross has already happened. Only waiting for confimation then i will go short

Eben
  • #418
  • Apr 13, 2007 6:57am Apr 13, 2007 6:57am
Quoting Ebenst
H Doji Star. Well done on the USD/CHF. I took 40 pips of it on TEB63 system just to see it drop another 100 pips lol.

The only way to see if a strategy is successful is to stick to the rules, no matter what.

Good luck on the USD/CHF

Eben
Thanks for the heads up on the $yen!! Looks really good...I'm licking my lips already!!
The swissy short was a profitable trade,but I too let it run away from me. After scalping 32 pips in the very first 4hr candle, I closed the other short I had open earlier ,took 24 more pips, but left a lot on the table!Didn't have time for a posting then.But hey!! 56 pips in two days is not half bad!
Glad to hear you profited from the swissy too. Initially I thought I was putting my foot in it by posting the possibility of it here!!
A bit reluctant to let it run it's course though, I'm sure VyNNer has his reasons for only using this on Cable only.Might be the bigger moves on Cable. Can't wait for a good cable set up. I think then I'll follow the strategy to the tee.

Happy trading.
  • #419
  • Apr 13, 2007 7:06am Apr 13, 2007 7:06am
My 4 hour candle on usd/jpy just closed. was sitting with my finger on the trigger. Suspense was building and...... no cross lol. The next 4 hour candle is to close to the weekend for me so i am done with trading for today. Didn't make any pips today but didn't lose any as well. Good day at the office.

Enjoy the weekend everybody and again thanx VyNNer for a posting this strategy

Eben
  • #420
  • Apr 13, 2007 7:08am Apr 13, 2007 7:08am
Quoting Ebenst
The only reason why i looked at the USD/JPY is because all the rules except the last cross has already happened. Only waiting for confimation then i will go short

Eben
USDJPY LOOKS AWFULLY CLOSE TO CROSSING NOW! Could even cross during this candle or the next.
D'ya think we should short it (when it crosses of course) with the weekend pending? Anything can happen over a couple of days, political or otherwise.
By the way,I shorted the USDCHF AS the 13 crossed the 50.It worked out ok in the end. Should I wait 'til the next candle or just trade it like I see it?
Doji Star
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