GBPJPY Daily Trend Method

Traders, if you are trading this method on a live account please remember that you should not be risking more than 1 percent of your account balance per trade.

Michael

Do you look at daily charts to get an overview? seems strong support at 130.816...may get taken out with the lower highs.

Would you still take longs on the 30 at this point?

Thanks for the pic! Good analysis, however, this is a mechanical system so I take every trade that it says to take. As far as outlooks are concerned, I always use the daily and 4 hour charts for my analysis with MA's, fibonacci, s/r, and elliott wave.

Michael

GBPJPY Daily Trend Method: No trade today. ADX is below 25

Hi MichaelLee 8

I have just been reading through your thread, I have a few questions if your don't mind.!

Are you still using the same strategy as posted on page one many months ago?
Do you only trade the one currency with this strategy?
Have often can you get in to a trade?
What is the percentage win ratio?

Thanks
WFX

Thanks for taking the time to read the thread! I like it when people ask questions. It clarifies the method for everyone who is involved.

1) I officially modified the system on May 27th. You'll find details regarding the modification on page 17 - post 250. I also had additional modifications that came out on June 24(page 28 - post 414) and July 14(page 34 - post 497). The first video on page 1 covers all of the latest and greatest features and parameters of the system. Let me know if you need any help getting set up.

2) Yes, the system only trades GBPJPY. However, I am aware of about a dozen traders that have put their own twist on it and have been successful. Several have mentioned that it works out good with EURUSD but I'm sure they are not using the same parameters that we use with GBPJPY.

3) The system in it's current format trades a maximum of once per day. However, there are quite a few days throughout each month where we don't take a trade because the indicators are not in agreement.

4) To my knowledge the win percentage is between 50-60%. I must admit that I've fallen off of the record keeping as of late and I apologize for that. Thankfully I post all of the trades here on FF. It may take a while to add up the number of trades but we have good forward testing results to look at from May 2010-present.

Thanks again for the questions and your interest in the thread and system. Let me know if I can help you out with anything else.

Michael

Move the stop on yesterday's trade to +35

The 130.816 support i mentioned here has now been broke.

Thanks for the reply Michael

Don't worry I have plenty more questions..!

Cheers

WFX

If in 10 minuts the adx keep above 25, we will have a sell.

Waiting for the close.

The trade from 10-6-2010 (Wednesday) hit it's 125 pip target

GBPJPY Daily Trend Method: Wait

GBPJPY Daily Trend Method: Wait

Still waiting here.....price action has slowed to a crawl here

GBPJPY Daily Trend Method: No trade today. The 5 ema was above the red forex offtrend line.

GBPJPY Daily Trend Method: Sell

I'm short from 130.513

Hi Michael

Can you please re post your lastest template and indicators?
How long have you been using this system?

Thanks

WFX

This system has been going since May of this year. You will find a template and all of the indicators below. I also included the multipurpose trade manager EA and the instructional pdf for it.

Yesterday's trade just hit the 125 pip target!

GBPJPY Daily Trend Method: Sell

I'm short from 129.343

Hi MichaelLee,

I have been following your strategy for the past month now but I get lost here and there.

For instance: 12 October is a now trade day because of the first bar of the ADX indicator being below 25. Perhaps I am using incorrect trading times. My broker is FXDD and my trading times are at the close of 14:30, 15:00 and 15:30 bars.

Please fill in the blanks if i'm missing something.

Thanks

Sinothi

GBPJPY Daily Trend Method: Wait