GBP/USD - one trade a day | Page 14 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

EUR/GBP, EUR/USD, GBP/USD, AUD/USD, CAD, NZD, JPY, and more... 15 replies

GBP/AUD, GBP/CAD, GBP/CHF and GBP/NZD thread 126 replies

ACD Method on GBP/JPY One trade a day 451 replies

The best way to trade is one trade a day 76 replies

two version of FF tunnel Chart, one say down, one say up, which one is correct? 3 replies

Attachments: GBP/USD - one trade a day
Exit Attachments

GBP/USD - one trade a day

  • #261
  • Feb 2, 2011 6:30pm Feb 2, 2011 6:30pm
what I like to do is go out as far as I can on a chart and draw some lines
you know high lows H&S support resistance then drill down do the same till I get to the TF i'm using. It has been very helpful.

If I see PA near one of these lines I will not trade or maybe only go short

I just saw the ea you refereed to and will check it out
Thanks
  • #262
  • Feb 3, 2011 3:55am Feb 3, 2011 3:55am
+10 Pips on Oanda

Thanks, cgrey!
  • #263
  • Feb 3, 2011 5:20am Feb 3, 2011 5:20am
Even my modified version (08:00 compared to 01:00) gave 10 pips today...

Here are the screenshots of today's trade and Equity from 08-2009

Cgrey sorry for the charts :-)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1trade_0302.JPG Size: 56 KB
Click to Enlarge Name: 1trade_0302_equity.JPG Size: 47 KB
Market is like a puzzle, YOU have to fit the pieces!!
  • #264
  • Feb 3, 2011 5:34am Feb 3, 2011 5:34am
Quoting Bobcat2
+10 Pips on Oanda
Quoting Chris_B
Even my modified version (08:00 compared to 01:00) gave 10 pips today...
We'll take 'em 10 pips at a time....

When it starts to get fun (at least it did while I was backtesting), is when we start asking what day will be the one we hit the 10%, as opposed to will we win or lose
  • #265
  • Feb 3, 2011 11:31pm Feb 3, 2011 11:31pm
Hi cgrey,

In regards to the 10% a month target...

Say for example we have lost 5% in the whole month of February.


What is our target for March?

1. 5% we lost + Feb 10% target + Mar 10% target?

2. 5% we lost + Mar 10% target?

3. Mar 10% target
  • #266
  • Feb 4, 2011 12:28am Feb 4, 2011 12:28am
Quoting the-game
Hi cgrey,

In regards to the 10% a month target...

Say for example we have lost 5% in the whole month of February.


What is our target for March?

1. 5% we lost + Feb 10% target + Mar 10% target?

2. 5% we lost + Mar 10% target?

3. Mar 10% target
I believe cgrey has said it's always 10% of monthly starting balance regardless if prior month was negative.
  • #267
  • Feb 4, 2011 1:33am Feb 4, 2011 1:33am
cgrey,

The market with 1/2 hour before trading time remains flat as a pancake. With "Freaky Friday" occurring later today, it would seem traders are sitting on the sideline waiting for the USA unemployment report.

Would this be a good day to avoid trading?

Thanks,
Bob
  • #268
  • Feb 4, 2011 2:37am Feb 4, 2011 2:37am
My trade reached stoploss today... -20 pips...
Market is like a puzzle, YOU have to fit the pieces!!
  • #269
  • Feb 4, 2011 4:40am Feb 4, 2011 4:40am
Quoting Chris_B
My trade reached stoploss today... -20 pips...
my too,price hit pip in pip.
When we set sl(sell) what we do with spred?
  • #270
  • Feb 4, 2011 4:58am Feb 4, 2011 4:58am
Quoting Chris_B
My trade reached stoploss today... -20 pips...
i skipped the trade today due to NFP, but i recorded it as a loss in my books so that i can aim 12.5% this month
  • #271
  • Feb 4, 2011 5:17am Feb 4, 2011 5:17am
Hi, I have some question abaut todays traid. Why your stop loss was 30 pips?
candle open 1.6747 and sl was...1.6777.
  • #272
  • Feb 4, 2011 5:41am Feb 4, 2011 5:41am
Quoting the-game
Hi cgrey,

In regards to the 10% a month target...

Say for example we have lost 5% in the whole month of February.


What is our target for March?

1. 5% we lost + Feb 10% target + Mar 10% target?

2. 5% we lost + Mar 10% target?

3. Mar 10% target
Every month we reset - so target is always 10% of the starting balance of that month.
  • #273
  • Feb 4, 2011 5:44am Feb 4, 2011 5:44am
Quoting kSelukov
Hi, I have some question abaut todays traid. Why your stop loss was 30 pips?
candle open 1.6747 and sl was...1.6777.
This, and your other question about spread, have both been answered several times already. I'd suggest you read through this thread again, and you will find the answers to both.
  • #274
  • Feb 4, 2011 5:49am Feb 4, 2011 5:49am
Quoting Bobcat2
cgrey,

The market with 1/2 hour before trading time remains flat as a pancake. With "Freaky Friday" occurring later today, it would seem traders are sitting on the sideline waiting for the USA unemployment report.

Would this be a good day to avoid trading?

Thanks,
Bob
Now that we know we had a SL today, yep - it would have been a good day not to trade

Seriously, though, this is probably another one of those that I'd have to answer by saying there is nothing that says you shouldn't make that decision based on what you are comfortable with. I didn't skip any days what I tested. I generally don't avoid trading (outside of this system) on NFP days (in fact, I see them as opportunities), though I do tend to evaluate my open positions and tighten up stops.

Generally speaking, you are absolutely correct that the market is usually flat leading up to NFP, so it seems like a realistic approach to choose not to trade this day each month.
  • #275
  • Feb 4, 2011 5:52am Feb 4, 2011 5:52am
Quoting roundrock
i skipped the trade today due to NFP, but i recorded it as a loss in my books so that i can aim 12.5% this month
rr - just curious... If you didn't trade, but recorded as a loss, why not just trade? You were already "expecting" a loss, so the absolute worst that could have happened is what you expected. On the other hand, it is impossible to win if you don't trade.

As it turned out, we did lose today... But had we won, you would have still recorded a "loss" without even having a chance for the win.
  • #276
  • Feb 4, 2011 5:54am Feb 4, 2011 5:54am
I am cutting out early today for a 3-day weekend out of town with the family.

I will probably be around for a couple of hours this morning, but I definitely won't be checking in after noon today or over the weekend at all.

Good weekend to everyone... Monday we'll start to dig out of the hole that we've started February in.
  • #277
  • Feb 4, 2011 6:21am Feb 4, 2011 6:21am
Quoting cgrey
rr - just curious... If you didn't trade, but recorded as a loss, why not just trade? You were already "expecting" a loss, so the absolute worst that could have happened is what you expected. On the other hand, it is impossible to win if you don't trade.

As it turned out, we did lose today... But had we won, you would have still recorded a "loss" without even having a chance for the win.
if it had met the monthly PP, then i would have missed it and i would continue trading till i get it,

yes its a risk not trading, but i will take that risk on NFP day
  • #278
  • Feb 4, 2011 6:28am Feb 4, 2011 6:28am
Quoting roundrock
if it had met the monthly PP, then i would have missed it and i would continue trading till i get it,

yes its a risk not trading, but i will take that risk on NFP day
I get that part - totally understand about choosing not to trade due to comfort with the risk. sorry... I should have been more clear....

Why not just record it as "0" (no trade) instead of recording a loss when you didn't trade? I guess it works out the same in the end - I was just surprised that you'd intentionally record a loss when you didn't lose.

Don't mind me - just a "math thing"
  • #279
  • Feb 4, 2011 8:47am Feb 4, 2011 8:47am
cgrey,

How will the Superbowl results affect this strategy?
  • #280
  • Feb 4, 2011 8:56am Feb 4, 2011 8:56am
Quoting Bobcat2
cgrey,

How will the Superbowl results affect this strategy?


When Green Bay wins (I'm not a Packers fan, I just can't support the Steelers after they knocked the Jets out), all times used for this system will change to Central Standard Time in their honor.
0 traders viewing now