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GBPJPY Daily Trend Method

  • #621
  • Sep 15, 2010 8:28am Sep 15, 2010 8:28am
The ADX is above 25, RSI is also above 50, trendline is uptrend. Watch it ... probably buy signal ...
  • #622
  • Sep 15, 2010 9:05am Sep 15, 2010 9:05am
GY Daily Trend Method: Buy

I'm long from 133.022
  • #623
  • Sep 15, 2010 10:12pm Sep 15, 2010 10:12pm
I'm in at 133.066 and out at 133.819. I just go short because I see it seems there is a resistance when I check it around 16:30 GMT, I still gain 87.98.
  • #624
  • Sep 16, 2010 8:12am Sep 16, 2010 8:12am
Quoting PerkinElmer
I'm in at 133.066 and out at 133.819. I just go short because I see it seems there is a resistance when I check it around 16:30 GMT, I still gain 87.98.
Very nice.....I bagged +35 pips.....
  • #625
  • Sep 16, 2010 8:54am Sep 16, 2010 8:54am
GBPJPY Daily Trend Method: No Trade Today, ADX below 25
  • #626
  • Sep 17, 2010 8:37am Sep 17, 2010 8:37am
The ADX is above 25, RSI below 50, and red trendline.
  • #627
  • Sep 17, 2010 8:55am Sep 17, 2010 8:55am
Quoting PerkinElmer
The ADX is above 25, RSI below 50, and red trendline.
Should be very, very close here
  • #628
  • Sep 17, 2010 9:26am Sep 17, 2010 9:26am
We are playing the waiting game here...should be close yet again.
  • #629
  • Sep 17, 2010 9:31am Sep 17, 2010 9:31am
Today's trade is a sell
I'm short from 134.03
  • #630
  • Sep 17, 2010 9:40am Sep 17, 2010 9:40am
Well traders, you all have a great weekend. I have a lunch date planned with my lovely wife and I need to go wash my dirty butt and shave the stubble off of my face! LoL
  • #631
  • Sep 17, 2010 10:25am Sep 17, 2010 10:25am
Have a nice weekend too Michael.
  • #632
  • Sep 17, 2010 10:28am Sep 17, 2010 10:28am
I'm short at 134.314. Also short 80.507 at AUDJPY.
  • #633
  • Sep 17, 2010 10:30am Sep 17, 2010 10:30am
Short on GBPJPY at 134.314
Short on AUDJPY at 80.507
  • #634
  • Sep 20, 2010 8:50am Sep 20, 2010 8:50am
Traders, looks like today's trade will be an add-on to Friday's trade.
  • #635
  • Sep 20, 2010 9:04am Sep 20, 2010 9:04am
GBPJPY Daily Trend Method: Sell
Move stop on Friday's trade to break even
Move take profit on Friday's trade to the same level as today's trade

I'm short from 133.424 for today's trade
  • #636
  • Sep 21, 2010 4:55am Sep 21, 2010 4:55am
Thanks Michael and everybody in this thread! I made a EA for this strategy (using fixed sl and tp; close position when reverse signal appears). I tested it with Aug. ~ Sep. Gbp/Jpy 30m data. However, the result is not good enough. Here are my suggestions:

1) "Custom Trend" and "ForexOffTrend_Alert" is not important. You may want to remove the two indicators and simply use ADX's DI+ and DI- to show the trend.
2) Currently ADX>25 is required to open a position; I suggest adding one condition: ADX<35. When ADX is bigger than 35, the trend has ran for a long way, the risk of reverse becomes bigger.

Attached please see test results and the EA file.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: pic1.jpg Size: 36 KB
Click to Enlarge Name: pic2.jpg Size: 84 KB
Attached File(s)
File Type: mq4 gj_daily_125.mq4   7 KB | 279 downloads
  • #637
  • Sep 21, 2010 8:04am Sep 21, 2010 8:04am
Quoting shinetrip
Thanks Michael and everybody in this thread!...
Thank you for all of your hard work! I'll take these comments and suggestions into consideration. Thank you so much for your contribution. Keep us posted on your testing results!

Michael
  • #638
  • Sep 21, 2010 11:31am Sep 21, 2010 11:31am
By the way, there was no trade today. The ADX dropped below 25.
  • #639
  • Sep 22, 2010 5:27am Sep 22, 2010 5:27am
i did one more test and found RSI is not necessary either. also, it is better not to use the 3rd bar. this way the system will become a "time + ADX" system.
  • #640
  • Sep 22, 2010 7:37am Sep 22, 2010 7:37am
Quoting shinetrip
i did one more test and found RSI is not necessary either. also, it is better not to use the 3rd bar. this way the system will become a "time + ADX" system.
That's great info.......keep up the good work!

Traders, I was stopped out for +35 and +100 on Friday's and Monday's trades.
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