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Attachments: GBPJPY Daily Trend Method
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GBPJPY Daily Trend Method

  • #1,001
  • Apr 25, 2011 9:00am Apr 25, 2011 9:00am
Gbpjpy daily trend method: Sell
  • #1,002
  • Apr 26, 2011 9:01am Apr 26, 2011 9:01am
Gbpjpy daily trend method: Sell
  • #1,003
  • Apr 27, 2011 9:00am Apr 27, 2011 9:00am
Gbpjpy daily trend method: Buy
  • #1,004
  • Apr 29, 2011 8:15am Apr 29, 2011 8:15am
Hey guys....I'm back.....the internet has been down and there were horrible storms in this area.....I believe the last death toll was 281 but that could change if they find some of the missing people....Lots and lots of tornadoes....my brother-in-laws house and car were hit by trees so I was busy helping them clean up that mess....Very sad.....saw many houses that were completely destroyed....
  • #1,005
  • Apr 29, 2011 8:53am Apr 29, 2011 8:53am
Gbpjpy daily trend method: No trade today.....adx is below 25
  • #1,006
  • May 2, 2011 9:01am May 2, 2011 9:01am
Gbpjpy daily trend method: Sell
  • #1,007
  • Edited May 3, 2011 1:02am May 2, 2011 11:50pm | Edited May 3, 2011 1:02am
Hi Michael
What are the reasoning behind this strategy?
ie why it has to be opened at certain time(s).
the indicators used and why choosing this currency etc.

Thanks in advance
WTjS
  • #1,008
  • May 3, 2011 12:15am May 3, 2011 12:15am
Quoting MichaelLee_8
Hey there,

I picked these particular bars because they represent the "London Fix". The idea is that we will often see direction for the rest of the day established between 10:00 am and 11:00 am EST. Now this isn't perfect by any means but I'm sure you get what I'm saying.

Michael


just bump this up for new comers to the thread
Canadian by birth Australian by choice
  • #1,009
  • May 3, 2011 12:29am May 3, 2011 12:29am
Michael
I have another questions on exit point no 2:
"2) If, on the following morning, you receive a signal in the opposite direction."

The opposite signal meaning all signals must be met?
say we are on long trade, the opposite signal include RSI AND ADX AND ForeOffTernd AND Counter Trend? or only either one of them show opposite signal?

Thanks
WTjS
  • #1,010
  • May 3, 2011 9:01am May 3, 2011 9:01am
Gbpjpy daily trend method: Sell
  • #1,011
  • May 4, 2011 12:09am May 4, 2011 12:09am
Quoting MichaelLee_8
Gbpjpy daily trend method: Sell
http://www.forexfactory.com/attachme...1&d=1304485733
  • #1,012
  • May 4, 2011 7:33am May 4, 2011 7:33am
Quoting wtjs1971
Michael
I have another questions on exit point no 2:
"2) If, on the following morning, you receive a signal in the opposite direction."

The opposite signal meaning all signals must be met?
say we are on long trade, the opposite signal include RSI AND ADX AND ForeOffTernd AND Counter Trend? or only either one of them show opposite signal?

Thanks
WTjS
Correct, all parameters must be met. For example, let's say that we are in a short trade but the market remained close to our entry price. Then on the following morning we get a signal for a long trade. We would then close our short trade and open a long position.
  • #1,013
  • May 4, 2011 9:01am May 4, 2011 9:01am
Gbpjpy daily trend method: Wait
  • #1,014
  • May 4, 2011 9:31am May 4, 2011 9:31am
Gbpjpy daily trend method: No trade today.....adx dipped below 25
  • #1,015
  • May 5, 2011 8:58am May 5, 2011 8:58am
Gbpjpy daily trend method: Wait
  • #1,016
  • May 5, 2011 10:00am May 5, 2011 10:00am
Gbpjpy daily trend method: Sell
  • #1,017
  • May 5, 2011 10:20am May 5, 2011 10:20am
best trends on gbp/jpy was on 2008 year .
  • #1,018
  • May 5, 2011 12:25pm May 5, 2011 12:25pm
Quoting MichaelLee_8
Correct, all parameters must be met. For example, let's say that we are in a short trade but the market remained close to our entry price. Then on the following morning we get a signal for a long trade. We would then close our short trade and open a long position.
THanks michael.
what if the indicators mix? should we let the previous trade open?
  • #1,019
  • May 5, 2011 2:34pm May 5, 2011 2:34pm
hello Michael,

i have been looking at your method over past couple of days. havent finished reading entire thread to be honest but will do within next few days.

i installed your system on alpari uk demo and the MT4 from forex.com, however I have trouble backtesting this system because the red line can only be seen for few weeks back in the history. how do you get so much data in the history with a red line?

as per `modified system` in your excel sheet from page 1: do you move SL to +25 or +35 once you are up 100 pips?

have a good evening

tonny
  • #1,020
  • May 5, 2011 5:54pm May 5, 2011 5:54pm
Hi Michael,

What settings do you use for Multi purpose trade manager?
Have you tried to trade London session using your method and if we only look at ADX, RSI and Custom trend indi than what ForexOfftrend is for?

Thx
HankT
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