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GBPJPY Daily Trend Method

  • #681
  • Oct 13, 2010 9:22am Oct 13, 2010 9:22am
Quoting Sinothi
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
Yeah, I think your time maybe be off by a bar or two. Just remember that the first bar is the bar that CLOSES at 10:00am eastern time which is the same time that New York City is on. Let me know if you need any more help.

Michael
  • #682
  • Oct 13, 2010 9:30am Oct 13, 2010 9:30am
GBPJPY Daily Trend Method: Wait
  • #683
  • Oct 13, 2010 10:02am Oct 13, 2010 10:02am
Hi,

If it is completely mechanical, why not just build an EA to do the trade for you? Then you could backtest and assess to some degree on the viability of this technique in differing market conditions?
We are our own best indicator.
  • #684
  • Oct 13, 2010 10:05am Oct 13, 2010 10:05am
GBPJPY Daily Trend Method: No Trade Today
  • #685
  • Oct 13, 2010 10:06am Oct 13, 2010 10:06am
Quoting bluemele
Hi,

If it is completely mechanical, why not just build an EA to do the trade for you? Then you could backtest and assess to some degree on the viability of this technique in differing market conditions?
I don't have the knowledge or expertise to code an EA.
  • #686
  • Oct 14, 2010 8:48am Oct 14, 2010 8:48am
Tuesday's trade (10-12-10) was stopped out....
  • #687
  • Oct 14, 2010 9:04am Oct 14, 2010 9:04am
GBPJPY Daily Trend Method: Buy

I'm long from 130.314
  • #688
  • Oct 14, 2010 10:11am Oct 14, 2010 10:11am
ADX has been below the 25 level for several hours. How can this be a long? Using IBFX
  • #689
  • Oct 14, 2010 10:22am Oct 14, 2010 10:22am
Quoting todd960960
ADX has been below the 25 level for several hours. How can this be a long? Using IBFX
It may be a broker issue. Make sure you have your history downloaded. Here's my chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy daily trend 10-14-10.jpg Size: 80 KB
  • #690
  • Edited 11:15am Oct 14, 2010 10:27am | Edited 11:15am
ADX was 25,86 at close of the 9:30 (10:30 CLST, 14:30 GMT+1 FXCM) bar, and all indicators say Long.

Quoting todd960960
ADX has been below the 25 level for several hours. How can this be a long? Using IBFX
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPYM30_2010-10-14_11-22-23.jpg Size: 54 KB
"Don't pretend that things will change, if you always do the same" A.E.
  • #691
  • Oct 14, 2010 2:32pm Oct 14, 2010 2:32pm
Thx guys for the reply. I did just install MT4 on my work laptop. So your probably right about the history issue. I'll check it on my home pc when I get home.

todd
  • #692
  • Oct 15, 2010 9:00am Oct 15, 2010 9:00am
GBPJPY Daily Trend Method: Buy
  • #693
  • Oct 15, 2010 9:24am Oct 15, 2010 9:24am
By the way.....today's trade is an add-on trade
  • #694
  • Oct 18, 2010 8:50am Oct 18, 2010 8:50am
stopped out on our trades last night.
  • #695
  • Oct 18, 2010 9:02am Oct 18, 2010 9:02am
GBPJPY Daily Trend Method: Sell

I'm short from 129.124
  • #696
  • Oct 19, 2010 9:07am Oct 19, 2010 9:07am
GBPJPY Daily Trend Method: Wait

Let's see what the london fix brings us here. Price action is slowing down significantly.
  • #697
  • Oct 19, 2010 9:31am Oct 19, 2010 9:31am
Still waiting......as previously mentioned, price action is creeping along.....
  • #698
  • Oct 19, 2010 10:10am Oct 19, 2010 10:10am
Well there is no trade for today......the 5 EMA was above the red forex offtrend line.
  • #699
  • Oct 20, 2010 9:03am Oct 20, 2010 9:03am
GBPJPY Daily Trend Method: No Trade Today....ADX below 25
  • #700
  • Oct 21, 2010 8:01am Oct 21, 2010 8:01am
By the way, I forgot to mention that the trade from Monday (10/18) hit it's target.....Interesting price action yesterday and last night. ADX is slowing down here but hopefully we will get an entry.

Michael
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