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GBPJPY Daily Trend Method

  • #21
  • May 13, 2010 7:11am May 13, 2010 7:11am
Quoting MichaelLee_8
Did anybody take that trade?
I took it on a demo.
  • #22
  • May 13, 2010 7:12am May 13, 2010 7:12am
Quoting MichaelLee_8
Took the sell signal @ 136.44
Can you show the present chart with entry rules?
  • #23
  • May 13, 2010 7:23am May 13, 2010 7:23am
Quoting Pip26
Can you show the present chart with entry rules?

Here ya go.

Michael
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy trend system trade.gif Size: 18 KB
  • #24
  • May 13, 2010 7:24am May 13, 2010 7:24am
Quoting billbss
I took it on a demo.
Same here.
  • #25
  • May 13, 2010 7:47am May 13, 2010 7:47am
Quoting MichaelLee_8
Here ya go.

Michael
why didn't u chose 9:30 AM EST candle, RSI is above 50 and ADX is above 25, Trend is also Red..

any specific reason??
  • #26
  • May 13, 2010 7:54am May 13, 2010 7:54am
Quoting Pip26
why didn't u chose 9:30 AM EST candle, RSI is above 50 and ADX is above 25, Trend is also Red..

any specific reason??
That was the 9:30 AM EST candle.
It ended at 10:00 AM.
He shows entrance at 10:00 AM.
  • #27
  • May 13, 2010 7:56am May 13, 2010 7:56am
Take another look at the screen shot. The 13:30 candle on forex.com MT4 starts at 9:30AM EST and closes at exactly 10:00AM EST. So technically, I did use the 9:30 bar. If you need further explanation let me know.

Michael
  • #28
  • May 13, 2010 8:03am May 13, 2010 8:03am
Thanks for the help Bill.

Michael
  • #29
  • May 13, 2010 8:09am May 13, 2010 8:09am
Here's my screen shot. Looks good to me. What do you think?

=Ed=
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY system.PNG Size: 55 KB
  • #30
  • May 13, 2010 8:10am May 13, 2010 8:10am
Quoting MichaelLee_8
Take another look at the screen shot. The 13:30 candle on forex.com MT4 starts at 9:30AM EST and closes at exactly 10:00AM EST. So technically, I did use the 9:30 bar. If you need further explanation let me know.

Michael
I got it thanx a lot.

thnx bill.

I made little late now is on our way.

Good Luck Allzzzzz

  • #31
  • May 13, 2010 8:20am May 13, 2010 8:20am
Quoting enewbold
Here's my screen shot. Looks good to me. What do you think?

=Ed=
Looks like you entered an hour late.

Michael
  • #32
  • May 13, 2010 8:24am May 13, 2010 8:24am
Here's a better screen shot that clearly identifies the 09:30 bar.

I outlined the three bars in yellow to make it easier to see.

We'll see how the trade goes. =Ed=
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY system.PNG Size: 54 KB
  • #33
  • May 13, 2010 8:26am May 13, 2010 8:26am
Ed,

Did you enter at the close of the 9:30 AM EST bar? If not, you should have.

Michael
  • #34
  • May 13, 2010 8:26am May 13, 2010 8:26am
Quoting MichaelLee_8
Looks like you entered an hour late.

Michael
OK. Let me get it straight then: If all the conditions are met at the close of the 10:30 bar (which will be 11:00 Eastern), then you enter the trade; otherwise not.

Correct?

Thanks,
=Ed=
  • #35
  • May 13, 2010 8:30am May 13, 2010 8:30am
Oh crap. I just re-read the conditions and have answered my own question:

"If the following parameters are “TRUE” at the close of any of the bars mentioned..."


Sorry. I simply must learn to slowly read these things!

=Ed=
  • #36
  • May 13, 2010 8:35am May 13, 2010 8:35am
Quoting enewbold
Oh crap. I just re-read the conditions and have answered my own question:

"If the following parameters are “TRUE” at the close of any of the bars mentioned..."


Sorry. I simply must learn to slowly read these things!

=Ed=




LoL......that's ok man. I think we all have that problem. I've had to edit a bunch of my posts to get things straight so don't feel bad!

Michael
  • #37
  • May 13, 2010 8:39am May 13, 2010 8:39am
OK. I just bailed out of that trade I took, fortunately making a $211 profit!

I'll study the system a lot more over the coming days and be much more careful in the future.

Thanks for giving us a good system to work with.

=Ed=
  • #38
  • May 13, 2010 8:43am May 13, 2010 8:43am
No problem Ed. Hopefully you are trading on a demo account. Looks like it's time for me to mow the lawn. I'll be back on this afternoon.

Everybody feel free to ask questions and post screen shots.

Michael
  • #39
  • May 13, 2010 9:21am May 13, 2010 9:21am
Quoting MichaelLee_8
No problem Ed. Hopefully you are trading on a demo account.
No; I trade live. Been trading for quite some time and manage to keep a lid on things. Just looking for ways to make my life a bit easier, rather than to sit here and stare at the computer screen all day.

Will catch you later,
Ed
  • #40
  • May 13, 2010 10:05am May 13, 2010 10:05am
Hey.....whatever works for ya, right??!!

Michael
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