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  • #141
  • Jul 7, 2011 4:44am Jul 7, 2011 4:44am
07/07/11
eurjpy

As mentioned in an earlier post, this is the first trade I am taking on my live account with this system, so hopefully I will be able to maintain the good results being achieved on demo. I will continue to run the demo, and will post both the demo and live results.

DEMO - opened 0.03 115.864 sl 250 tp 500 be+2 50

LIVE - opened 0.03 115.860 sl 250 tp 500 be+2 50

I have also attached both charts, although as you can see the entries were virtually identical.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy_110707.gif Size: 22 KB
Click to Enlarge Name: eurjpy_110707_live.gif Size: 23 KB
  • #142
  • Jul 7, 2011 6:29pm Jul 7, 2011 6:29pm
Quoting fxozgirl
update 07/07/11
eurgbp

Trade still heading in the right direction, although it hasn't made it to breakeven yet, but came close reaching 48 pips. Hopefully overnight it will hit breakeven.

update 08/07/11
eurgbp

Trade reached break even + 2 and closed the first part of the trade for 50.1 pips. The trade has now retraced and closed out at breakeven.

Total pips = 54.1
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp_110708.gif Size: 23 KB
  • #143
  • Jul 7, 2011 6:32pm Jul 7, 2011 6:32pm
Quoting fxozgirl
07/07/11
eurusd

opened sell 0.03 1.43175 sl 250 tp 500 be+2 50
update 08/07/11
eurusd

Trade reached breakeven and closed 1st part of trade for 50.6 pips, like the eurgbp, this pair also retraced to close at breakeven.

Total pips = 54.6
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_110708.gif Size: 22 KB
  • #144
  • Jul 7, 2011 6:34pm Jul 7, 2011 6:34pm
Quoting fxozgirl
07/07/11
eurchf

opened sell 0.03 1.20164 sl 250 tp 500 be+2 50
update 08/07/11
eurchf

Trade hasn't been into positive territory at all yet, currently down approx 120 pips
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf_110708.gif Size: 21 KB
  • #145
  • Edited 6:39pm Jul 7, 2011 6:37pm | Edited 6:39pm
Quoting fxozgirl
07/07/11
eurjpy

As mentioned in an earlier post, this is the first trade I am taking on my live account with this system, so hopefully I will be able to maintain the good results being achieved on demo. I will continue to run the demo, and will post both the demo and live results.

DEMO - opened 0.03 115.864 sl 250 tp 500 be+2 50

LIVE - opened 0.03 115.860 sl 250 tp 500 be+2 50

I have also attached both charts, although as you can see the entries were virtually identical.
update 08/07/11
eurjpy

This trade did get slightly into positive territory, but is currently approx 80 pips into drawdown at the moment.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy_110708.gif Size: 23 KB
Click to Enlarge Name: eurjpy_110708_live.gif Size: 23 KB
  • #146
  • Edited 5:48pm Jul 8, 2011 5:35pm | Edited 5:48pm
Quoting fxozgirl
update 08/07/11
eurchf

Trade hasn't been into positive territory at all yet, currently down approx 120 pips
update 09/07/11
eurchf

Trade has moved to break even overnight and closed the first part of the trade. There must have been a massive spike (probably due to nfp) as the trade closed with 61.6 pips profit (break even was set at 50).

Gotta love it when it works in your favour
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf_110709.gif Size: 21 KB
  • #147
  • Edited 11:04pm Jul 8, 2011 5:47pm | Edited 11:04pm
Quoting fxozgirl
update 08/07/11
eurjpy

This trade did get slightly into positive territory, but is currently approx 80 pips into drawdown at the moment.
update 09/07/11
eurjpy

As for the eurchf this trade also benefited from the overnight trading and the first part of the trade closed at breakeven.

DEMO: 1st part of trade closed for 87.9 pips profit - trade had been set for breakeven +2 at 50, so a spike gained some more pips for me. Free trade now

LIVE: 1st part of trade closed for 53.6 pips profit - Free trade now
(interesting the big difference between the demo and live close when price is moving fast)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy_110709.gif Size: 23 KB
Click to Enlarge Name: eurjpy_110709_live.gif Size: 22 KB
  • #148
  • Jul 8, 2011 6:29pm Jul 8, 2011 6:29pm
Hi Fxozgirl
Enjoyed reading your thread, I too work fulltime & like the simplicity of your charts, might have a go myself, just not sure about the large stop loss...........
Julie
  • #149
  • Jul 8, 2011 10:31pm Jul 8, 2011 10:31pm
Quoting Hawki trader
Hi Fxozgirl
Enjoyed reading your thread, I too work fulltime & like the simplicity of your charts, might have a go myself, just not sure about the large stop loss...........
Julie

Hi Julie,

I'm glad you've enjoyed the thread, this strategy is really made it a lot easier for me to manage my trading and is really quite simple.

The stop loss takes into account the average range a pair could move in a day.

I'd suggest if you want to try it, run it on demo until you feel comfortable. The only losses I've made in the forward demo test have been due to poor entry decisions I have made, but in my manual backtest there were a few losses, however I think virtually all of them the trades were closed at the cross of the 2 stoch lines rather than going to the full stop loss.

If you do try it and have any questions, please feel free to post here.
  • #150
  • Jul 9, 2011 3:32am Jul 9, 2011 3:32am
Hi fxozgirl,

Just found your thread a couple of days ago and have to say I think your method looks very good. I think I will be trying it live soon and will let you know if I have success.

Just looking at my charts it looks to me like audchf was a buy last week (and still would be). Just wondering why you did not take that trade.

Thanks in anticipation and best wishes,
Banksia
  • #151
  • Jul 9, 2011 9:07pm Jul 9, 2011 9:07pm
Quoting Banksia
Hi fxozgirl,

Just found your thread a couple of days ago and have to say I think your method looks very good. I think I will be trying it live soon and will let you know if I have success.

Just looking at my charts it looks to me like audchf was a buy last week (and still would be). Just wondering why you did not take that trade.

Thanks in anticipation and best wishes,
Banksia
Hi Banksia,

thanks for taking an interest in my thread....

not sure if you have taken any trades on demo yet, but if not it's probably a good idea just so you are sure you understand where to enter/exit etc. I know it's pretty simple, but I've screwed it up a few times myself

As for the audchf trade I did take the buy on 30/07/11 and it was a great trade too
see
http://www.forexfactory.com/showthre...55#post4740155
then further updates here
http://www.forexfactory.com/showthre...71#post4742271 , here
http://www.forexfactory.com/showthre...12#post4747312 , here
http://www.forexfactory.com/showthre...37#post4750137 and closed here for 347 pips
http://www.forexfactory.com/showthre...76#post4753376

But now it is definitely NOT a valid buy signal, if anything it is a sell, however I didn't take it as the swap on an aussie sell trade kills and technically I wouldn't have been happy with the stoch signal line (light blue) not having penetrated far enough into the overbought area enough. See chart attached where the signal line only just breaks over the 80 line, for me this is not a strong enough signal to take the trade.

If you would like to post any charts with questions I will be happy to help you with them.
Attached Image (click to enlarge)
Click to Enlarge Name: audchf_110709.gif Size: 18 KB
  • #152
  • Jul 9, 2011 9:24pm Jul 9, 2011 9:24pm
Hi fxozgirl,

Thanks so much for the detailed reply. I actually meant "sell", not "buy", so sorry about that, but the info in your post is very helpful anyway.

The stochastic line on my chart has actually penetrated further than on yours, as per my chart below. Would appreciate your opinion on the setup on my chart. Not too sure how to attach a chart, but here goes!

Good advice about the demo trading - will have a good look at your thread this week and see what I think.
Attached Image (click to enlarge)
Click to Enlarge Name: audchf 10 July, 2011.png Size: 246 KB
  • #153
  • Jul 9, 2011 11:27pm Jul 9, 2011 11:27pm
Quoting Banksia
Hi fxozgirl,

Thanks so much for the detailed reply. I actually meant "sell", not "buy", so sorry about that, but the info in your post is very helpful anyway.

The stochastic line on my chart has actually penetrated further than on yours, as per my chart below. Would appreciate your opinion on the setup on my chart. Not too sure how to attach a chart, but here goes!

Good advice about the demo trading - will have a good look at your thread this week and see what I think.
Yes I can see from your chart the stoch has penetrated up near the 85 level (more so than my chart) so first part of the rule for entry is confirmed. Next though I look at where both the stoch lines cross the 80 level (with particular focus on the signal line). It doesn't appear there would have been a confirmed cross on Wed (remember we must wait until the close of the candle for confirmation) and then there is clear confirmation of the signal line crossing below the 80 level at the close of the candle on Thursday, so technically speaking you would have taken the trade at the open of Friday's candle.

Looking at your chart, it looks like the trade would have closed the first part at 50 pips and moved to breakeven +2. The trade would have been good to let run then as you would have been in a free trade.

Personally, I wouldn't take the trade now as a late entry, I would prefer to wait for a fresh set up.
Also as I mentioned in my previous post I don't take any sell trades with AUD as the lead currency as the swap from my broker on it is horrendous (not sure what yours is like) and if the trade runs for 3 - 5 days which is possible it can add up to a fair amount.

Also, I'm glad you're going to try demo...take a look back at some of my earlier posts and you will see where I jumped in a few times without waiting for all rules to be satisfied and paid the price. (Remember until breakeven is hit, you are risking the full trade)
It is a simple strategy but it is important that all the entry criteria is met first.

Hope this helps and feel free to post charts or questions as you need.

Cheers

ps, i've drawn some lines on your chart to try and show you what I mean
Attached Image (click to enlarge)
Click to Enlarge Name: audchf_banksiachart.png Size: 232 KB
  • #154
  • Jul 10, 2011 1:07am Jul 10, 2011 1:07am
Thanks fxozgirl for that educational post. I think I now have a handle on the entry conditions and will be watching and checking with your entries over the coming weeks. As you say, it's a bit late to be taking a trade in audchf now and I'll wait for another opportunity.

Best wishes,
Banksia
  • #155
  • Jul 10, 2011 10:22am Jul 10, 2011 10:22am
Hi Fxozgirl,
Thank you for this wonderful journal, I sure enjoyed reading it. I appreciate the time and interest you took to explain every chart.

I used to trade a similar system a year ago, I had stoch at 15m, 1H and 4H. Opening positions at 15m when all 3 TF's stoch at same direction. It was profitable (for 10-20 pips) but I wasn't mature enough to control myself, I over-traded a lot, jumping on trades before a clear confirmation ... and finally blamed it all on "Stoch" lol

May be I'll start working on my old system again, fine tuning it here and there.
I have a question for you, is your stoch applied to simple or exponential?
Good luck .. keep piping
" The fool who never traded Demo "
  • #156
  • Jul 10, 2011 4:40pm Jul 10, 2011 4:40pm
Quoting AmareX
Hi Fxozgirl,
Thank you for this wonderful journal, I sure enjoyed reading it. I appreciate the time and interest you took to explain every chart.

I used to trade a similar system a year ago, I had stoch at 15m, 1H and 4H. Opening positions at 15m when all 3 TF's stoch at same direction. It was profitable (for 10-20 pips) but I wasn't mature enough to control myself, I over-traded a lot, jumping on trades before a clear confirmation ... and finally blamed it all on "Stoch" lol

May be I'll start working on my old system again, fine tuning it...
Hi Amarex,

I'm glad you're enjoying my journal
I like explaining the charts, it has helped me remain focused and think more about what I am doing. I used to suffer from some of the things you mentioned too and mostly it is plain lack of discipline and rushing in that caused bad trades etc.

Having the journal is making me more accountable to myself, but also knowing that other people may be reading it as well makes me think things through more thoroughly before I jump in.

My trading has certainly improved recently...

I would encourage you to re-visit your previous system and try again...I am sure that the failure of many systems/strategies have been blamed on indicators when it is more often our own lack of discipline/interpretation that has lead to poor trades.

Good luck with your trading and thanks for visiting my journal...

ps. the stoch is simple
  • #157
  • Jul 10, 2011 5:15pm Jul 10, 2011 5:15pm
Quoting fxozgirl
update 09/07/11
eurchf

Trade has moved to break even overnight and closed the first part of the trade. There must have been a massive spike (probably due to nfp) as the trade closed with 61.6 pips profit (break even was set at 50).

Gotta love it when it works in your favour
update 11/07/11
eurchf

2nd leg of trade closed when the markets re-opened this morning, banking another 115.2 pips, jumping stop set to +50, last leg of trade left to run
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf_1107011.gif Size: 22 KB
  • #158
  • Jul 10, 2011 5:18pm Jul 10, 2011 5:18pm
Quoting fxozgirl
update 09/07/11
eurjpy

As for the eurchf this trade also benefited from the overnight trading and the first part of the trade closed at breakeven.

DEMO: 1st part of trade closed for 87.9 pips profit - trade had been set for breakeven +2 at 50, so a spike gained some more pips for me. Free trade now

LIVE: 1st part of trade closed for 53.6 pips profit - Free trade now
(interesting the big difference between the demo and live close when price is moving fast)
update 11/07/11
eurjpy

DEMO: 2nd leg of trade closed for 130.9 pips, jumping stop set to +50, last leg of trade left to run

LIVE: 2nd leg of trade closed for 130.7 pips, jumping stop set to +50, last leg of trade left to run
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy_1107011.gif Size: 23 KB
Click to Enlarge Name: eurjpy_1107011_live.gif Size: 23 KB
  • #159
  • Jul 11, 2011 5:16pm Jul 11, 2011 5:16pm
Quoting fxozgirl
update 11/07/11
eurchf

2nd leg of trade closed when the markets re-opened this morning, banking another 115.2 pips, jumping stop set to +50, last leg of trade left to run
update 12/07/11
eurchf

Trade still going, jumping stop has now moved to +250
The trade is currently retracing slightly and may get stopped out at 250 today...
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf_1107012.gif Size: 21 KB
  • #160
  • Jul 11, 2011 5:19pm Jul 11, 2011 5:19pm
Quoting fxozgirl
update 11/07/11
eurjpy

DEMO: 2nd leg of trade closed for 130.9 pips, jumping stop set to +50, last leg of trade left to run

LIVE: 2nd leg of trade closed for 130.7 pips, jumping stop set to +50, last leg of trade left to run
update 12/07/11
eurjpy

DEMO: trade still running, jumping stop now moved to +250

LIVE: trade still running, jumping stop now moved to +250
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurjpy_1107012.gif Size: 22 KB
Click to Enlarge Name: eurjpy_1107012_live.gif Size: 22 KB
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