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GBPJPY Daily Trend Method

  • #221
  • May 21, 2010 6:38am May 21, 2010 6:38am
Traders,

Looks like a short trade is setting up.
  • #222
  • May 21, 2010 6:54am May 21, 2010 6:54am
Well Scratch that.....ADX now below 25 and picking up steam. Personally, I'm kind of happy about that especially with the week that we've had. I would hate to get nailed with a gap against us!

Michael
  • #223
  • May 21, 2010 7:00am May 21, 2010 7:00am
No trade for the day.

10:00 AM Total May Pips: -25
7:00 PM Total May Pips: -57

Have a great weekend everyone!

Michael
  • #224
  • May 23, 2010 4:02pm May 23, 2010 4:02pm
No trade for tonight.
  • #225
  • May 24, 2010 6:09am May 24, 2010 6:09am
Traders,

It doesn't appear that the ADX will move above 25 without an insane move here in the next hour.
  • #226
  • May 24, 2010 7:02am May 24, 2010 7:02am
No 10 AM trade today.
  • #227
  • May 24, 2010 4:45pm May 24, 2010 4:45pm
Sorry for the late post. We had a short entry for the 7 pm trade @ 129.91
  • #228
  • May 24, 2010 5:45pm May 24, 2010 5:45pm
Traders,

I've been working on a few exciting modifications. I'll post them ASAP!
  • #229
  • May 24, 2010 5:59pm May 24, 2010 5:59pm
7 pm trade is looking good....currently up 70 pips. Anybody else take the trade?
  • #230
  • May 25, 2010 12:13am May 25, 2010 12:13am
Great Michael could you please post a screenshot of your trade of 7 pm please ?

Seems today will be a short trade for for 9h30/10am, but wait wait

Many thanks
  • #231
  • May 25, 2010 12:52am May 25, 2010 12:52am
Hi guys,

so what is the timing to trade this strat.... please tell me in gmt... thank you...
  • #232
  • May 25, 2010 1:46am May 25, 2010 1:46am
Quoting yousky
Great Michael could you please post a screenshot of your trade of 7 pm please ?

Seems today will be a short trade for for 9h30/10am, but wait wait

Many thanks

Here you go....it was a winner!

10 AM Trade
Total May Pips= -25

7 PM Trade
Total May Pips= 68
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy trend system trade.gif Size: 17 KB
  • #233
  • May 25, 2010 1:55am May 25, 2010 1:55am
Quoting ah_don14
Hi guys,

so what is the timing to trade this strat.... please tell me in gmt... thank you...
The first trade is at 2 PM GMT

The second trade is at 11 PM GMT

These times are subject to change in the fall and spring because of daylight savings time. I'll keep everyone up to date.
  • #234
  • May 25, 2010 6:44am May 25, 2010 6:44am
Hi Michael,

a short trade is coming in 15 minutes?
  • #235
  • May 25, 2010 6:53am May 25, 2010 6:53am
Quoting uafx
Hi Michael,

a short trade is coming in 15 minutes?
Yes....you are correct.
  • #236
  • May 25, 2010 7:02am May 25, 2010 7:02am
Traders,

Here is a screen shot of the modifications I mentioned earlier. I'll explain in detail once I finish the testing phase.

10 AM Trade: short @ 128.43

Michael
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy trend system ex.gif Size: 19 KB
  • #237
  • May 25, 2010 7:33am May 25, 2010 7:33am
I realise that the trade is valid according to the rules, but I am so uncomfortable with the price being above the trendline that I am waiting for the next candle/s

Larry

ps. made some pips on a late entry to the afternoon trade on my demo a/c, exit came from the trailing stop.
  • #238
  • May 25, 2010 9:28am May 25, 2010 9:28am
Quoting LarryK
I realise that the trade is valid according to the rules, but I am so uncomfortable with the price being above the trendline that I am waiting for the next candle/s

Larry

ps. made some pips on a late entry to the afternoon trade on my demo a/c, exit came from the trailing stop.
That's fine Larry. At the end of the day it's your account.

I realize that the entries desperately need to have greater accuracy. That's why I've been working so hard on finding a better set-up and I believe I'm on to something.

Preliminary Results:
Original 10am Trade 5/09-present
4998 Pips 53.59% win percentage

New 10am Trade 5/09-present
5450 Pips 62.26% win percentage

I'm now going to compare the results for 2008.
  • #239
  • May 25, 2010 4:12pm May 25, 2010 4:12pm
7 pm trade: long @ 130.17
  • #240
  • May 26, 2010 1:46am May 26, 2010 1:46am
Both of yesterday's trades were stopped out.

10 am Trade Total May Pips= -125

7 pm Trade Total May Pips= -48
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