The Really Really Boring Forex System | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Boring day 11 replies

Boring System 6 replies

easy & boring system 114 replies

Boring Periods of year in Forex ! 14 replies

Just another boring martingale system that is headed towards doom 12 replies

Attachments: The Really Really Boring Forex System
Exit Attachments

The Really Really Boring Forex System

  • #61
  • Nov 21, 2009 7:05pm Nov 21, 2009 7:05pm
Hi Ed
thanks for ur reply .
i use ANTI HEDGING strategy if i get stopped , because i am so sure about the trend and anti hedging will put me back into the trade with the trend , i am sure u know this it is a jacko way of trading . sure i might lose even if i am sure about the trend but this is forex .
i understand it is not your way as u use a very high stop loss .but maybe both ways meet somewhere in a way or another
i m learning your way . please keep it going
thank you .
  • #62
  • Nov 21, 2009 9:12pm Nov 21, 2009 9:12pm
Weekly charts are simple to understand. The lines I am not so sure of.

http://i944.photobucket.com/albums/a...n/audusd-6.gif
  • #63
  • Nov 22, 2009 11:27am Nov 22, 2009 11:27am
Quoting samer960
Hi Ed
thanks for ur reply .
i use ANTI HEDGING strategy if i get stopped , because i am so sure about the trend and anti hedging will put me back into the trade with the trend , i am sure u know this it is a jacko way of trading . sure i might lose even if i am sure about the trend but this is forex .
i understand it is not your way as u use a very high stop loss .but maybe both ways meet somewhere in a way or another
i m learning your way . please keep it going
thank you .
Yes, I am using the same method but just using a bigger stop loss. Like you say, if you are sure as you can be about the trend you can afford to take a loss and reenter when the tide turns back in the direction of the trend.
  • #64
  • Nov 22, 2009 11:37am Nov 22, 2009 11:37am
xtraction, look at the attached chart. The lines are all at round numbers. Look at the 80 cents level. How many times has that acted as support and/or resistance?

This is the key to trading, being able to identify these levels with your eyes shut.

If you haven't already I seriously recommend you read the silent service method thread. Clockwork71 is an awesome trader and you will learn a lot from that thread no matter how experienced you are.

These levels, once you have them drawn, will show you where to expect reversal patterns to occur and you can trade them with a fair amount of confidence.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd weekly.gif Size: 27 KB
  • #65
  • Nov 23, 2009 6:39am Nov 23, 2009 6:39am
Right then, first entry currently 120 pips up at the moment. I expect now it will break 0.94 and make a new high around resistance at 0.96 and drop back for the next entry somewhere between 0.93 and 0.94 near the trendline. That should take until at least the start of next week so just a case of sitting and watching now.
  • #66
  • Nov 23, 2009 7:09pm Nov 23, 2009 7:09pm
My AUD/USD TS was hit for profit at 0.9225; now I am waiting for the price to continue down to 0.9175 so I can plug in my anti-hedge entry at 0.9225

Anyone else in similar circumstances?
  • #67
  • Nov 24, 2009 2:27am Nov 24, 2009 2:27am
Quoting Bobcat2
My AUD/USD TS was hit for profit at 0.9225; now I am waiting for the price to continue down to 0.9175 so I can plug in my anti-hedge entry at 0.9225

Anyone else in similar circumstances?
There's nothing wrong with taking profit but the point of this thread is that you hold on to your trade until the pips squeak.

Collectively we got a good entry the other day and all I can see is that we had a good push up and today price has retested the trendline before it pushes higher. For me no action is required until it has taken off in our direction away from the trendline and then returned back to test it again, hopefully at a round number and 200 or so pips higher than my original entry where I will be buying more.

How much profit did you take? How much profit would you have had by just holding aud/usd until Jan or Feb 2010? You trade as often as you like but I like the idea of not pushing any buttons until something actually happens. My total goal with my trading now is to approach it as my buy and hold share deals. I bought Barclays at 71p, they're now 3.xx, they've got potential to go to 7 or 8.xx, I'll hold them and I don't care how long it takes. Yes I use a stop loss but loose, oh so loose man.

Congrats on a profitable trade though
  • #68
  • Nov 25, 2009 12:45am Nov 25, 2009 12:45am
Quoting Eduardo
There's nothing wrong with taking profit but the point of this thread is that you hold on to your trade until the pips squeak.

Collectively we got a good entry the other day and all I can see is that we had a good push up and today price has retested the trendline before it pushes higher. For me no action is required until it has taken off in our direction away from the trendline and then returned back to test it again, hopefully at a round number and 200 or so pips higher than my original entry where I will be buying more.

How much profit did...
Hi Eduardo,

I took 125 pips profit due to using Jacko's 50 pip trailing stop strategy. Also, I have reentered the trade at 0.9225 according to the Anti-hedging rule. The reentry is now about 30 pips in profit.

So, would you simply not use Jacko's 50 pip TS and not set any TP? And set a huge SL of 1000 pips in order to give enough room for the trade to breathe?

Thanks!
  • #69
  • Nov 25, 2009 9:08am Nov 25, 2009 9:08am
Quoting Bobcat2
Hi Eduardo,

I took 125 pips profit due to using Jacko's 50 pip trailing stop strategy. Also, I have reentered the trade at 0.9225 according to the Anti-hedging rule. The reentry is now about 30 pips in profit.

So, would you simply not use Jacko's 50 pip TS and not set any TP? And set a huge SL of 1000 pips in order to give enough room for the trade to breathe?

Thanks!
I don't think we need too big a stop loss at the moment, mine is just below 0.89, significant round number.

As I said it's up to you if you want to keep pressing the buttons but I'm happy to keep this open Jan or Feb at the minimum if it keeps going the right way.

My strategy is going to be to add on when the trendline is touched and move the stop loss up below the last significant support until the trend changes, or consolidates and then I'll reassess.
  • #70
  • Nov 25, 2009 9:22am Nov 25, 2009 9:22am
Thanks Eduardo...I appreciate your sharing with us!
  • #71
  • Nov 26, 2009 4:09am Nov 26, 2009 4:09am
Entered long AUD/JPY 3 days ago @ 81.78, SL @ 78.94

Now waiting it to be stopped out......
  • #72
  • Nov 26, 2009 4:36am Nov 26, 2009 4:36am
Quoting dannywmk
Entered long AUD/JPY 3 days ago @ 81.78, SL @ 78.94

Now waiting it to be stopped out......
Yes, anything crossed with the yen is very volatile. I'm not one to judge but just not sure why you chose to buy that pair?

There's an entry available right now and exactly on the trendline on AudUsd. (like as in right now 10:36 GMT).

Try buying that and holding it.
  • #73
  • Nov 26, 2009 4:54am Nov 26, 2009 4:54am
thanks Ed.

I chose a/j bcoz of the interests, but I failed to recognize the strong uptrend of the JPY recently.

I tried many methods (trending, breakout, etc) and still failed. so I don't know what to do next....

Quoting Eduardo
Yes, anything crossed with the yen is very volatile. I'm not one to judge but just not sure why you chose to buy that pair?

There's an entry available right now and exactly on the trendline on AudUsd. (like as in right now 10:36 GMT).

Try buying that and holding it.
  • #74
  • Nov 26, 2009 5:30am Nov 26, 2009 5:30am
Quoting dannywmk
thanks Ed.

I chose a/j bcoz of the interests, but I failed to recognize the strong uptrend of the JPY recently.

I tried many methods (trending, breakout, etc) and still failed. so I don't know what to do next....
Ok, stick with this thread and see where we get.

We're only trading audusd as it's not too volatile, low spread and good strong reasons for it to be trending up.

I added on today at 0.9168, right on the trendline. It's only 48 pips higher than my original entry but I'm happy to add on as I was here to see it.

If you took an entry just now place your stop loss at 0.8850 and just leave the trade open until the middle of next week. When anything interesting happens I'll post what I'm doing next.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd daily 2.gif Size: 37 KB
  • #75
  • Nov 26, 2009 6:08am Nov 26, 2009 6:08am
Really thank you for your advice. I really hope to learn the good trading skill and psych. from you expert.

BTW, happy thanks giving day to you all.


Quoting Eduardo
Ok, stick with this thread and see where we get.

We're only trading audusd as it's not too volatile, low spread and good strong reasons for it to be trending up.

I added on today at 0.9168, right on the trendline. It's only 48 pips higher than my original entry but I'm happy to add on as I was here to see it.

If you took an entry just now place your stop loss at 0.8850 and just leave the trade open until the middle of next week. When anything interesting happens I'll post what I'm doing next.
  • #76
  • Nov 26, 2009 6:37am Nov 26, 2009 6:37am
Quoting dannywmk
Really thank you for your advice. I really hope to learn the good trading skill and psych. from you expert.

BTW, happy thanks giving day to you all.
I wouldn't say that I'm an expert, let's see if by Christmas we're not all a little richer and then I'll be a step closer
  • #77
  • Nov 26, 2009 10:39am Nov 26, 2009 10:39am
Thanks, Eduardo...I'm along for the ride!
  • #78
  • Nov 26, 2009 11:51am Nov 26, 2009 11:51am
Good to have you with me.

That trendline is looking pretty broken at the moment. I'm not too concerned, if you draw the trendline differently it's still within a reasonable range. The 50 sma is a good guide, if it starts closing below that it's more worrying. Could be a consolidation rather than just a retrace.

I've got another pending order at 0.9010, if it reaches that I think it looks cheap.
  • #79
  • Nov 26, 2009 12:20pm Nov 26, 2009 12:20pm
Quoting Eduardo
Good to have you with me.

That trendline is looking pretty broken at the moment. I'm not too concerned, if you draw the trendline differently it's still within a reasonable range. The 50 sma is a good guide, if it starts closing below that it's more worrying. Could be a consolidation rather than just a retrace.

I've got another pending order at 0.9010, if it reaches that I think it looks cheap.
Ok..I just placed my pending order at 0.9010 as well. I also placed the SL at 0.8850 as per the previous trade entry.

Thanks again for keeping us connected with the blow-by-blow reasoning for your trading decisions...extremely helpful to know how you are analyzing the setups.
  • #80
  • Nov 27, 2009 9:14am Nov 27, 2009 9:14am
Well, what a day so far... My entry at 0.8910 came within a fraction of being hit, damn!

That huge spike was probably caused by the failure of a climate change agreement in Aus. As far as I can tell one of the major political parties are split down the middle regarding the science.

This could trigger a general election in Aus if this is not sorted out so I may well trail my stops a bit more agressively than before.

We shall have to wait and watch.
0 traders viewing now