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Simple and profitable forex strategy

  • #21
  • Sep 23, 2011 1:48am Sep 23, 2011 1:48am
Quoting antariks
24/09/2011: This pair formed a support at 103.91 on 19/9 and broke below this level on 21/9.

On 22/9 it retested this level but again further closed below at 102.62.

A short position with 0.19 lots was opened with a stoploss at immediate resistance at 105.29 but no profit target yet established because there in no immediate support level below this point. Will decide further as the support forms.
got into this trade this night, too, with the same sl and no tp. What's your broker's timezone? I have a broker with GMT+1 time and it closes the day in the middle of the night, so it's too uncomfortable for me.

Thanks,
Donatas
  • #22
  • Sep 23, 2011 3:46am Sep 23, 2011 3:46am
21.09.2011: On 12/09 a support was formed at daily low of 86.11. On 20/9 price just closed below this at 86.09. On next day price again tested this and closed further below at 84.93.

A short position was opened at 84.93 with0.13 lots and stop loss at 88.77 (resistance at high of 15/09). Target profit was 83.75 (immediate next support level at the low of 06/12/2010).

The trade reached target profit on the same day.

Net position in CHF/JPY: 110 pips and $190.
  • #23
  • Sep 23, 2011 3:47am Sep 23, 2011 3:47am
Quoting BaliuxXx
got into this trade this night, too, with the same sl and no tp. What's your broker's timezone? I have a broker with GMT+1 time and it closes the day in the middle of the night, so it's too uncomfortable for me.

Thanks,
Donatas

I am using FXDD. Think its also GMT+1
  • #24
  • Sep 23, 2011 3:58am Sep 23, 2011 3:58am
Quoting antariks
21.09.2011: On 12/09 a support was formed at daily low of 86.11. On 20/9 price just closed below this at 86.09. On next day price again tested this and closed further below at 84.93.

A short position was opened at 84.93 with0.13 lots and stop loss at 88.77 (resistance at high of 15/09). Target profit was 83.75 (immediate next support level at the low of 06/12/2010).

The trade reached target profit on the same day.

Net position in CHF/JPY: 110 pips and $190.
Ok, one more annoying question
Opening (i.e. short) the position, if there is no recent RS level below your entering price, you go to the right of your chart until you get the first SR line?

thanks,
Donatas
  • #25
  • Sep 23, 2011 6:23pm Sep 23, 2011 6:23pm
Quoting BaliuxXx
Ok, one more annoying question
Opening (i.e. short) the position, if there is no recent RS level below your entering price, you go to the right of your chart until you get the first SR line?

thanks,
Donatas

Thats right but not right Its left on your chart. I wish you can go right on your chart.... lol
  • #26
  • Sep 23, 2011 6:24pm Sep 23, 2011 6:24pm
23/9/2011: On 12/9 EUR/USD formed a support at day's low of 1.3494. On 22/9 it broke that support and closed below at 1.3459. But on 23/9 it retested that level and closed above at 1.3521.

More details about the trade opened on my blog.
  • #27
  • Sep 23, 2011 6:51pm Sep 23, 2011 6:51pm
23/09/2011: The trend in this pair is bullish and 22/09 candle broke its immediate past resistance level of 0.9009, which was the daily high of 20/4/2011.

On 23/9/2011 price retested this level but still closed above it at 0.9025.The bullish trend is still maintained.

On 23/09, opened 0.13 lot LONG position at 0.9015 with a stop loss at 0.8646 with a profit target at the next resistance level of 0.9293 (high of 06/04/2011).

www.forexmadeeasier.blogspot.com
  • #28
  • Edited Sep 26, 2011 4:05am Sep 25, 2011 11:47pm | Edited Sep 26, 2011 4:05am
Quoting antariks
24/09/2011: This pair formed a support at 103.91 on 19/9 and broke below this level on 21/9.

On 22/9 it retested this level but again further closed below at 102.62.

A short position with 0.19 lots was opened with a stoploss at immediate resistance at 105.29 but no profit target yet established because there in no immediate support level below this point. Will decide further as the support forms.
26/09/2011: A new support formed at the low of 22/9 at 102.20.
Profit target of the opened trade is now at 102.25

Trade reached profit target with a net gain of 37 pips.
  • #29
  • Sep 25, 2011 11:50pm Sep 25, 2011 11:50pm
Quoting antariks
23/09/2011: The trend in this pair is bullish and 22/09 candle broke its immediate past resistance level of 0.9009, which was the daily high of 20/4/2011.

On 23/9/2011 price retested this level but still closed above it at 0.9025.The bullish trend is still maintained.

On 23/09, opened 0.13 lot LONG position at 0.9015 with a stop loss at 0.8646 with a profit target at the next resistance level of 0.9293 (high of 06/04/2011).

www.forexmadeeasier.blogspot.com
26/9/2011: The new profit target is now the high of 22/9, i.e, 0.9180.
  • #30
  • Sep 26, 2011 4:07am Sep 26, 2011 4:07am
Quoting antariks
23/9/2011: On 12/9 EUR/USD formed a support at day's low of 1.3494. On 22/9 it broke that support and closed below at 1.3459. But on 23/9 it retested that level and closed above at 1.3521.

A buy trade with 0.35 lots opened at 1.3525 with stop loss at a newly formed support level 1.3384 and a profit target at immediately previous resistance at 1.3795 (the daily high of 21/9).
The trade touched stoploss with a loss of 41 pips and $143.50.

Net position -$143.50
  • #31
  • Sep 26, 2011 5:46pm Sep 26, 2011 5:46pm
22/9/2011: After a long fall the pair broke an old support level of 1.5343, low of 28/12/2010. On 23/09 it retested but closed much higher at 1.5487. A buy trade with 0.31 lots initiated at 1.5490 on 23/09 with stoploss at 1.5326 (low of 22/9) and profit target at next resistance level of 1.5866 (high of 15/09)
  • #32
  • Sep 28, 2011 4:52am Sep 28, 2011 4:52am
any new tips brother
  • #33
  • Oct 9, 2011 8:13am Oct 9, 2011 8:13am
I have been reading this thread and its one of the best here at ff.

I would really like to learn to digest more deeply the way you trade.


can you please continue to post more trades with its respective explanation ,just like you have been doing these past days?.

Thank you for sharing your knowledge, Antariks
  • #34
  • Oct 9, 2011 8:16am Oct 9, 2011 8:16am
I would like to know how you managed the last GBP_USD trade you posted here. I noticed it went close to reaching its target but did not.

how did you managed it. can you explain?

tahank again for sharing with us
  • #35
  • Nov 12, 2011 4:17pm Nov 12, 2011 4:17pm
Monday 14th Nov trades

EUR/USD:
Buy at 1.3750, stop loss at 1.3230, no TP level yet, will be decided later.
The SL point is very far away, so open a very small lot so the loss is max 2% of your account size.

USD/CHF:
Sell at 0.9005, stop loss at 0.9315. Lot size to be decided accordingly as 2% of account balance. TP will be advised later.

USD/JPY:
Sell at 77.10, stop loss at 79.60.

AUD/USD:
Buy at 1.2700, Stop Loss at 0.9850

USD/CAD:
Sell at 1.010 with SL at 1.06. Don't worry about the very big stop loss. The trade will be closed much before it hits that, either with profit or small loss.

GBP/JPY:
Buy around or below 124.00 with stop loss at 120.50

EUR/GBP:
Buy at 0.8550 with stop loss at 0.8400

Thats all
Cheers and happy trading
  • #36
  • Nov 12, 2011 8:52pm Nov 12, 2011 8:52pm
Thank you very much my friend.

I am glad you are back, sharing your knowledge with us.


Thank you again

r2star
[email protected]
  • #37
  • Nov 13, 2011 3:46pm Nov 13, 2011 3:46pm
A small rectification before the market opens today.

Please don't take the US/JY trade. There was a mistake in forecasting.

Quoting antariks
Monday 14th Nov trades

EUR/USD:
Buy at 1.3750, stop loss at 1.3230, no TP level yet, will be decided later.
The SL point is very far away, so open a very small lot so the loss is max 2% of your account size.

USD/CHF:
Sell at 0.9005, stop loss at 0.9315. Lot size to be decided accordingly as 2% of account balance. TP will be advised later.

USD/JPY:
Sell at 77.10, stop loss at 79.60.

AUD/USD:
Buy at 1.2700, Stop Loss at 0.9850

USD/CAD:
Sell at 1.010 with SL at 1.06. Don't worry about the very big stop loss. The trade will be closed much before...
  • #38
  • Nov 14, 2011 2:09pm Nov 14, 2011 2:09pm
Yesterday's trades are going bit opposite but have patience.

New trade today.

Buy GBP/USD around 1.5900 with stop loss at 1.5630

Cheers
  • #39
  • Edited 3:36pm Nov 15, 2011 3:08pm | Edited 3:36pm
Hold the positions for EUR/USD, EUR/GBP, AUD/USD and GBP/JPY trades.

Close USD/CHF, USD/CAD and GBP/USD trades accepting the losses.

Cheers and hope for better days ahead.
  • #40
  • Nov 15, 2011 4:07pm Nov 15, 2011 4:07pm
Sell GBP/USD at 1.5820 with stop loss at 1.6170

Sell CHF/JPY at 84.20 with stop loss 89.00
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